Nio Appoints Thijs Meijling as New Head of European Business
Written by Cláudio Afonso | LinkedIn | X
The electric vehicle maker Nio has appointed Thijs Meijling as the new Head of European Business.
The move is part of a series of internal restructures the company internally announced last week, as it plans to expand into new continents, according to a memo seen by EV.
On LinkedIn, Thijs Meijling — who will now report to Nio‘s co-founder and president Lihong Qin — wrote, “I’m happy to share that I’m starting a new position as Head of Nio Europe Business at Nio!”.
Part of the restructuring process is also the new role of Daniel De Groot, the former Head of NIO Power Europe Business & Expansion who became, on June first, the new Head of Central, Northern and Eastern Europe Business Development Department, Global Business.
Meijling joined Nio in April 2022 and was previously serving as Head of Europe Commercial Operations. Prior to Nio, he spent nearly 5 years at LeasePlan after working for The Boston Consulting Group from 2010 to 2017.
At LeasePlan, Meijling started as a Strategy & Transformation Director before moving to Switzerland to assume the lead of the Swiss market. After ten months in the role, he became Managing director in the following three years before joining the electric vehicle maker.
Nio registered 6,700 insurance registrations in China last week setting a new record, according to the latest numbers published on Tuesday by the automaker Li Auto.
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From May 27 to June 2, the Shanghai-headquartered manufacturer increased its weekly registrations by 24 percent from the 5,400 units registered in the previous week.
Earlier today, China’s investment bank CICC issued a new research note maintaining the outperform rating on Nio‘s Hong Kong-traded shares wile setting a price target of $HK62, equivalent to $7.94 USD.
Nio shares closed at HK$41.55 on the Hong Kong Stock Exchange on Tuesday, indicating that the price target from CICC suggests an implied upside potential of 49 percent.
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In a new research note, Morgan Stanley said Nio‘s record deliveries in May were “in line with raised expectations” as the firm keeps the $10 price target.
Based on the last closing price prior to the note, Morgan Stanley’s price target implies an upside potential of about 85 percent as the firm keeps the overweight rating on the shares.
Nio announced last week that has secured a significant strategic investment of 1.5 billion rmb (approximately $232.56 million) for its “Nio Power” company from Wuhan Guangchuang Fund and other investors.
Written by Cláudio Afonso | LinkedIn | X
