China-based electric vehicle manufacturer Nio has announced plans to open its first overseas factory in Budapest, Hungary, in September 2022. Located in Pest in the eastern part of the city, the new facility will manufacture power products including battery-swapping stations for the European market.

The opening is part of Nio’s strategy to increase its car sales across the continent with a focus on Denmark, Germany, the Netherlands and Sweden.

The company is also partnering with UK-based oil and gas giant Shell to build battery-swapping stations globally, starting with China and Europe. Nio plans to establish 4,000 battery-swapping stations worldwide, one-quarter of which will be located outside of China.