EV maker Nio officially held on Saturday the launch event of its EV model under the Group’s third brand Firefly. With prices starting from 119,800 yuan ($16,400) for the compact EV model, Nio Group enters now the sub-150,000 yuan segment with deliveries in China beginning on April 29.
Nio’s Battery as a Service (BaaS) program, which allows customers to pay a monthly fee for the battery rent, will become available on August 1. Pricing for the BaaS variant will be known later this year.
The new Firefly will be available in two variants — the Freedom Edition and the Glow Edition — with starting prices of 119,800 yuan ($16,400) and 125,800 yuan ($17,200), respectively.
Firefly targets premium small EVs such as the BMW Mini and Smart models.
The Freedom Edition includes “premium woven fabric and seamless soft-touch leather blend” with front seats with under-seat storage. The Glow Edition includes a “premium suede and seamless soft-touch leather blend” with the front seats bringing “ventilation and lumbar support,” according to the brand.
The Firefly model features intelligent assisted driving capabilities, a 7.1 surround sound system, 9 airbags, and a panoramic sunroof. The European version will bring some changes adapted to the market.
In late March, German media outlet Automobilwoche reported that Firefly will be launched in Germany “this fall.” However, details of the European launch are not yet known.
The company said on Saturday’s event that buyers in China will receive a suite of limited-time launch benefits including a 10-year free usage of Nio’s autonomous driving pilot system, charging vouchers, and bonus loyalty points.
Customers who place a 5,000 yuan deposit before July 31 are eligible for the launch incentives, including trade-in perks and exclusive benefits for existing Nio and Onvo users.
The new strategy for Firefly marks a departure from the approach Nio initially took with its second brand, Onvo. When the Onvo L60 debuted last year, the vehicle was showcased in dedicated standalone stores.
