Written by Cláudio Afonso | LinkedIn | X
The electric vehicle manufacturer Nio is exploring various distribution methods for its new car brand, codenamed “Firefly,” set to launch in Europe in the summer of 2025. The other sub-brand, which was launched in mid-May, will arrive afterwards with no exact timeline defined.
In an interview with Norwegian media outlet Bilbransje24, Nio’s general managers for Norway and Germany discussed potential distribution strategies.
“As I see it, we have three options,” said An Ho, Nio’s general manager for the Norwegian market. “We can either sell the cars through our five company-owned Nio Houses and Nio Spaces. The second option is a combination of company-owned showrooms and independent dealers. The third option is just independent dealers”.
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In late January, Nio co-founder and president Lihong Qin enhanced the European market as a target for the more affordable brand.
The first model has been seen several times over the last months in road tests across China. According to official documents shared recently on Weibo, the factory responsible for producing Firefly vehicles is planned to have an annual output of 120,000 units.
When asked if the dealer option would involve an agency model or traditional dealer agreement, Ho confirmed it would be the latter. The decision on the distribution model is expected sometime after the summer this year.
Marius Hayler, general manager of the brand in Germany (previously leading the team in Norway) said that there will be flexibility for each market to decide which business model fits better.
“Regarding ‘Firefly,’ all four European Nio markets (Norway, Germany, Sweden, and the Netherlands) are free to choose their distribution model,” Hayler said. He has invited several dealership groups in Germany to discuss potential partnerships, with discussions set to take place in June.
The logo for the brand codenamed “Firefly” will be presented in October, with the first car expected to be shown by the end of the year. “Firefly” will be a B-segment car, featuring both battery swapping and regular fast charging options. The starting price for “Firefly” is anticipated to be well below 30,000 euros.
Nio recently unveiled another brand, Onvo, positioned below Nio but above “Firefly.” Onvo will launch in Europe after “Firefly,” though the exact timeframe is unknown, according to the Norwegian outlet. Both “Firefly” and Onvo will follow the dealer distribution model.
Nio currently offers six models in the Norwegian market, with plans for “Firefly” to have three models and Onvo to have four. “The plan is to have a full range of models for both brands in Europe within two to three years,” said Lihong Qin, co-founder and president of Nio.
Founder and chief executive, William Li, announced last week in Amsterdam that the brand plans to enter the UK market “probably next year.”
Nio‘s deliveries for May are expected to surpass 18,000 units. After registering 10 thousand units in the first two weeks of May, Nio insured 5,400 cars from May 20 to 26, bringing up the month to date figures to 15,400 vehicles.
The electric vehicle maker announced last week that it will report its unaudited financial results for the first quarter of 2024 on June 6, before the market opening.
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On International Family Day, Nio officially unveiled its subbrand aimed at families. The subbrand is named Onvo and the pre-sale price of its first model, a mid-size family SUV, starts at 219,900 RMB, which is 30,000 RMB lower than the Tesla Model Y.
The second sub-brand of the Group is codenamed “Firefly” and will focus in smaller and cheaper models around $27,000 (200,000 yuan) which will be able to access Nio‘s battery swap technology.
An executive has confirmed earlier this month that the subbrand will arrive in the European market next year. On May 6, Reuters reported citing Nicolas Vincelot, Nio Group general manager for France, that the Group will unveil “a second smaller EV to be sold in Europe next year for less than $30,000”.
“Nio is currently working on the launch of new car brands, that would be less premium, still obviously 100% electric, and more suited for the European market needs,” Vincelot told Reuters during a France-China business forum held in Paris three weeks ago.
The company said this week that will report its financial results for the first quarter of 2024 on June 6, before the market opening.
Written by Cláudio Afonso | LinkedIn | X
