EV maker Nio said on Tuesday it will enter the Portuguese market later this year with its core and Firefly brands, after signing a new deal with a local distributor.
In addition to the debut model of its sub-brand Firefly, the company will offer its entry-level SUV, the EL6; its flagship SUV, the EL8; its most affordable sedan, the ET5; and the ET5 Touring, the station wagon variant.
The flagship sedan ET7 and the EL7 SUV will not be offered.
The company was first spotted by EV road testing in the country three years ago, in July 2022.
“In Portugal, starting in 2025, Nio will cooperate with the JAP Group, a leading mobility provider in Southwestern Europe with more than 120 years of experience in the automotive industry,” the carmaker said in a statement.
Founded in 1904, the JAP Group represents several prestigious passenger vehicle brands — including BMW, Audi, Volkswagen, Porsche, Renault, Nissan, and Hyundai — in Portugal.
Over the next 18 months, both brands will also arrive in Greece, Cyprus and Bulgaria besides the already announced Austria, Belgium, Hungary, Luxembourg, Poland, Romania and the Czech Republic.
The EV maker said also o Tuesday it is readjusting its business model in Denmark, its smallest market in Europe. After having expanded to the Danish region in October 2022, Nio will now sell via local distributor Nic. Christiansen Group.
Last week, Nio co-founder and President Lihong Qin flew to Europe and visited several markets in the old continent.
In May, Nio Group delivered 23,231 vehicles globally, with just 58 units registered across its five European markets — accounting for only 0.25% of total deliveries.
The company is betting on broader geographic coverage and the introduction of Firefly to grow its presence.
Firefly, which launched in China with deliveries beginning in late April, targets the mass market with a starting price around €30,000 — significantly below Nio’s estimated average selling price of €85,000 in Europe.
In Europe, Nio‘s cheapest model ET5 starts at about €49,000.
Customer orders for Firefly opened in April in the Netherlands at €29,900 ($33,970), with sales expected to begin later this year.
In Norway, the model will start from NOK 279,900 ($26,570), as Nio remains exempt from tariffs imposed by the European Commission on some Chinese EV imports.
According to CEO William Li, Firefly will be available in 16 countries across five continents by year-end.
In Europe, Nio will expand to Greece, Cyprus and Bulgaria via a newly signed distribution agreement with Greek group Motodynamiki, local outlet Business Voice reported on Thursday.
Nio entered the European market in 2021 through Norway, and expanded to Germany, the Netherlands, Denmark, and Sweden in 2022.
By the end of 2026, it plans to be selling in Belgium, Luxembourg, Austria, Hungary, the Czech Republic, Poland, and Romania.
Hedin Mobility Group, Nio’s partner for Belgium and Luxembourg, plans to begin sales in Belgium in September and in Luxembourg in 2026.
AutoWallis, which will handle Austria, Hungary, Romania, Czechia and Poland, said sales in Austria and Hungary will begin between October and December.
Onvo, Nio’s other sub-brand focused on family vehicles, unveiled in China in May 2024 but is not currently slated for a European rollout.
