Nio co-founder and President Lihong Qin visited Europe this week as the Chinese electric vehicle (EV) maker steps up expansion efforts across the continent, including the upcoming regional launch of its budget sub-brand, Firefly.
Qin, who co-founded Nio with CEO William Li in 2014, hosted an internal townhall meeting in Munich on Wednesday, with Li joining remotely.
The visit comes as Nio accelerates its push into new European markets despite very limited sales across the five countries it expanded to between 2021 and 2022.
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.
Nio plans to offer four models in the new markets: the EL6 and EL8 SUVs, and the ET5 sedan and ET5 Touring. The larger ET7 sedan and EL7 SUV will not be offered.
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.
