Recently, The Mercury News reported that China-based automotive company Nio is expanding throughout north San Jose and will nearly double its current office space.
Similar to Tesla, Nio specializes in luxury electric cars, and is even currently testing autonomous vehicles in California.
The company was founded only 4 years ago and currently operates in Shanghai, Beijing, San Jose, London, Munich, and nine other cities, working on R&D, design, and manufacturing.
Currently, Nio occupies 85,000 square feet of office space at 3200 N. First Street in San Jose, where an estimated 340 to 425 workers are employed. Thanks to the company’s new leasing deal, arranged with CBRE and Colliers International, Nio will soon occupy an additional 100,000 square feet of space, located at 3200 N. First Street.
Between the two separate locations, the company will be able to accommodate an estimated workforce of anywhere from 740-925 employees in the Silicon Valley region alone. Globally, Nio currently employs approximately 4,00 workers in total.
Interestingly, recent reports in Bloomberg News and Reuters have also indicated that Nio USA has also launched a secret IPO that may raise as much as $2 billion for the company, though executives still have yet to confirm this information. Regardless, it’s obvious that the company is rapidly growing; San Jose Mayor Sam Liccardo was quoted saying, “I’m thrilled to see Nio expand their operations—and particularly growing their innovative, talented team—here in San Jose.”
This recent expansion is part of a larger trend among Silicon Valley tech companies, including Google, Amazon, Apple, and Facebook, who have all announced plans to expand to new office space throughout the Bay Area. In fact, a number of smaller tech companies, aside from Nio, are also expanding to new office space, including Bloom Energy, Hewlett Packard Enterprise, and Micron Technology.
As Mayor Liccardo mentioned, “…This area of the city is taking off just in time for the initiation of BART’s serbice to north San Jose next year.”
We’re looking forward to hearing more updates about Nio’s growth in San Jose!