Tesla Inc. (NASDAQ: TSLA) may be the most prominent player in the young electric vehicle (“EV”) sector, but there are plenty of EV makers scrambling to snatch the top spot away from the Palo Alto, California-based EV maker. One of Tesla’s major competitors is Chinese firm NIO Inc. (NYSE: NIO), which has been dubbed by some as the next Tesla. Although NIO was recently facing financial hardship, it has rebounded with critical government support, delivering a total of 43,000 electric vehicles in 2020 more than double the 20,000 built in 2019.
Now, the Chinese electric vehicle giant has set its sight on Europe, and Norway will be its first step. China is the largest EV market in the world, but last year, Europe briefly outpaced China and held the top spot. And while China is now back as the most extensive EV market, Europe has plenty of growth potential, especially as major EV makers such as Tesla have yet to gain a foothold on the continent. Norway, which in 2020 was the first country…
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