Written by Cláudio Afonso | LinkedIn | X
Nio’s Co-Founder and President Lihong Qin has denied that the electric vehicle maker’s upcoming sub-brand Firefly will launch an extended-range electric (EREV) model. This refutes a Yicai report suggesting a potential launch in 2026.
Qin confirmed to the Chinese media outlet Cailian that the Firefly brand, set to be unveiled at Nio Day 2024 on December 21, will adhere exclusively to pure electric models.
Earlier today, Yicai reported that Firefly might introduce an extended-range hybrid model by 2026, based on multiple sources and a Nio job posting seeking power NVH (Noise, Vibration, and Harshness) engineers with expertise in exhaust and air intake systems.
“The Firefly brand will be launched on Nio Day 2024 and will continue to follow the “chargeable, swappable, and upgradable” pure electric technology route,” Nio’s president stated.
The Firefly brand is set to enter the European market in 2025, despite looming tariffs on Chinese-made EVs. Nio aims to position Firefly as an affordable yet high-quality electric vehicle brand designed to appeal to European consumers.
William Li, Nio’s founder and CEO, has confirmed that Fireflys first model, a “boutique compact car,” will debut in China on December 21 at Nio Day 2024 in Guangzhou.
In the previous earnings call, Li shared that Firefly and Nio’s other sub-brand, Onvo, will debut in Europe next year as part of a larger push for international expansion.
“Starting next year, a big difference is that we not only have Nio brand and products, but also products from Onvo and Firefly, which are more suitable for the global market,” Li said.
According to official filings, Nio’s Firefly production facility in China is expected to produce up to 120,000 units annually. Priced between RMB 100,000 ($13,800) and RMB 200,000 ($27,600), Firefly models will target a cheaper segment.
Li confirmed that all three of Nio’s brands—Nio, Onvo, and Firefly—will incorporate battery-swapping technology.
Over recent months, Firefly prototypes have been spotted in testing across China and parts of Europe, including Germany and the Netherlands. Nio has indicated that Firefly will share retail channels with its flagship Nio brand, adopting a strategy akin to BMW’s model for shared dealership networks.
Written by Cláudio Afonso | LinkedIn | X
