Written by Cláudio Afonso | LinkedIn | X
Firefly, Nio’s second sub-brand that targets a more affordable and smaller segment, will arrive in the European market in 2025 despite the (soon to be confirmed) extra tariffs from the European Commission on China-made electric vehicles.
The brand will be launched on December 21 in China amid Nio’s annual event where the first model, an “affordable boutique compact car” according to the CEO William Li, will be revealed.
In early September, during the second quarter earnings call, Nio’s chief executive said that both sub-brands Onvo and Firefly will arrive in Europe next year.
According to Nick Gibbs of Automotive News Europe, citing a source, Nio’s plans remain unchanged despite the European Commission’s intention to impose additional tariffs on electric vehicles made in China.
“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. With that, we will be actually more active with our international expansion,” Li stated.
Over the last months, the model has been seen undergoing road tests in China, Germany and in the Netherlands several times this year.
In the same conference call with analysts, Nio’s founder said the team was “in smooth progress with our product preparation” as deliveries are scheduled to begin in the first half of next year.
After having joined Nio in January 2023 to lead the expansion of Nio to Italy, Nicola Marsala was appointed last May as the head of the Southern Europe Region Business Development suggesting that Onvo and Firefly can arrive in markets like Italy and Spain over the next few years.
According to official documents released in China, the factory designated for producing Firefly vehicles is expected to have an annual output capacity of 120,000 units.
Last June, Li clarified the pricing strategy for the three brands under the Nio Group.
“Price-wise, it is also pretty clear. The starting prices of our brands will be around RMB100,000, RMB200,000, and RMB300,000, which is also clearly differentiated. However, these three brands do share a similarity: all three brands can support power swap,” he added.
Regarding the development progress of Firefly, the chief executive said the model will be priced around RMB 100,000 ($13,800) to RMB 200,000 ($27,600) in China.
“Our third brand, Firefly, is making good progress in R&D. Several months ago, I tested an early build of their first model, and it’s pretty good. The Firefly product for the Chinese market will be a compact vehicle, priced around RMB100,000 to RMB200,000. Despite its affordability, it will adhere to high standards for safety and quality, making it a well-designed boutique car,” Nio’s founder said last June.
Li also discussed the sales strategy for Firefly, indicating that it will share sales channels with Nio.
“In terms of the sales channel, it will also share the point of sales with NIO, similar to how [indiscernible] shares its dealership sources with BMW. The selling price of Firefly will not be as high as many others, but product-wise, it is definitely a very good project,” he explained.
“We will start product delivery from the first half of next year. While the brand and product launch dates are yet to be finalized, the delivery timeline is already set for the first half of next year,” Li added earlier this month.
Written by Cláudio Afonso | LinkedIn | X
