Written by Cláudio Afonso | LinkedIn | X
Shanghai-headquartered EV maker Nio reported its third-quarter financial results on Wednesday, with management forecasting a sales record for the final quarter of 2024 and projecting sales to double next year, exceeding 442,000 units.
Commenting on the launch of Firefly brand, the third brand of the Nio Group, the chief executive said the debut model will be unveiled at the company’s annual event on December 21 with deliveries starting next year.
“We are going to deliver our very first product of the Firefly [brand] next year. The product is actually named Firefly. We actually follow the [BMW’s] Mini strategy where the brand and the first product for sure the same name, we are going to share more details on the brand and the product on December 21 this year, at our Nio day. Our brand will be making a official debut, and we will also unveil the first product,” William li stated.
The CEO added that the company is “very confident” on doubling the sales next year.
“Overall speaking, we are very confident with this product and the brand lineup with that for the entire company, our soft volume next year will be doubling on top of this year’s results.
Between July and September, the EV maker delivered 61,855 vehicles—an 11.6% year-over-year increase. Nio said earlier today that it estimates deliveries of between 72,000 and 75,000 units this quarter sending 2024 total deliveries to between 221,281 and 224, 281.
If the company delivers more than 72,000 units this quarter, doubling deliveries next year would represent more than 442,000 vehicles delivered across the three brands — Nio, Onvo and Firefly.
In the earnings call, Nio’s founder and chief executive William Li revealed that the company will start deliveries of its upcoming flagship sedan Nio ET9 in March 2025.
As of the time of writing, Nio shares are trading 3.4% lower at $4.48.
When unveiling it, the company said the ET9 is designed “specifically for the new generation of high-end business users”.
Written by Cláudio Afonso | LinkedIn | X
