Eighteen months after Nio and Abu Dhabi-based CYVN Holdings announced their Middle East joint venture in the presence of two heads of state, most of the commitments made at the founding remain unfulfilled or only partially delivered. The venture — branded ‘Nio MENA’ with the EV maker’s largest shareholder — was established in October 2024 with plans to bring Nio‘s full product ecosystem to the region. At the event, the company promised to bring to the region its sub-brands, build a battery swap network, an R&D center focused on autonomous driving and AI, and a bespoke model developed for the local market. A year and a half later, none of those initiatives have materialised. The company has opened three retail locations, launched three previous-generation models, built one battery swap station, and undergone what co-founder Qin Lihong described as “fairly deep organisational adjustments” after admitting sales were “not very satisfactory.” No official vehicle registration or delivery data has been disclosed for the UAE, the only country in the Middle East and North Africa (MENA) region where the EV maker has expanded so far. The Founding Nio and CYVN signed the agreement to form Nio MENA in October 2024 in Cairo. The ceremony took place in the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and Egyptian President Abdel Fattah el-Sisi. CYVN Holdings holds approximately 20.1% of Nio — making it the single largest shareholder — after completing two investments totalling $3.3 billion in 2023. In its founding announcement, Nio said the venture would “introduce NIO’s vehicle models, as well as those from its subsidiary brands to the MENA market,” positioning the UAE as “a key player in the deployment of advanced autonomous driving systems and battery-swapping technologies.” Promises vs. Reality Nio‘s founding announcement explicitly stated it would bring “its