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The Firefly is NIO's smaller model project that is expected to debut in Europe in the third quarter of 2024, company executives previously said. | NIO US | NIO HK | NIO SG
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NIO (NYSE: NIO) appears to be continuing to move forward with work related to its third sub-brand, though it is currently focused on the launch of the new ES6.
The electric vehicle (EV) maker filed applications for six Firefly-related trademarks in China on May 12, information from data provider Tianyancha shows.
The six trademarks are included in two classifications, construction and scientific instruments, including different combinations of NIO and Firefly, and appear to be primarily aimed at trademark protection.
Two of these trademarks are identical but belong to different classifications.
NIO management has previously said on several occasions that the company is creating two sub-brands codenamed ALPS as well as Firefly to target a broader mass market.
It is worth noting that both ALPS and Firefly are project code names for NIO's sub-brands, and not necessarily the final brand names.
On January 26, NIO co-founder and president Qin Lihong said at a face-to-face communication event with owners that NIO is preparing a model for the sub-brand codenamed ALPS, which is expected to start delivery within 2024.
The Firefly project is also being planned and will be delivered first to European consumers, Qin said at the time.
The smaller model of NIO is in development and will debut in Europe and is expected to be available in the third quarter of 2024, according to Qin.
William Li, founder, chairman and CEO of NIO, was quoted in German magazine Der Spiegel on April 29 as saying the company aims to capture Volkswagen's market share by introducing a model to the European market priced below 30,000 euros ($32,310).
"Yes, in terms of price that means we are also attacking Volkswagen more strongly than before," Der Spiegel quoted Li as saying, without providing further details.
On February 21, local media Cailian reported that NIO's fourth vehicle assembly plant will be located in Chuzhou, Anhui province, and will produce Firefly models.
NIO's vehicles are currently produced in two assembly plants located in Hefei, Anhui.
The Firefly model will be sold first in Europe, targeting the Volkswagen POLO market, Cailian said, citing an insider, adding that, like NIO's other products, they will support battery swap and battery leasing.
Compared to the main NIO brand and the ALPS project, the Firefly models will have weaker smart driving features, but they will still have a clear smart advantage over the European carmaker's offerings, the insider said.
NIO is preparing for the launch of the new ES6 in China, which will go on sale on May 24 and deliveries will begin on May 25.
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NIO plans to launch EV priced below 30,000 euros in Europe, report says
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Of the 8,051 orders received on launch day, the average price exceeded RMB 240,000, with 35.9 percent of consumers ordering the model with a range of 200 km, BYD said.
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Facelifts of the hybrid variants of BYD's flagship sedan Han garnered thousands of orders on launch day, underscoring that its strategy of making prices lower by releasing revamped versions of current models is working.
The 2023 Han DM-i and Han DM-p garnered 8,051 orders on launch day, the Chinese new energy vehicle (NEV) giant announced today.
Both models were officially launched in China yesterday afternoon, with the 2023 Han DM-i offered in six versions starting at RMB 189,800 ($27,000), RMB 199,800, RMB 209,800, RMB 219,800, RMB 239,800 and RMB 249,800, and the 2023 Han DM-p offered in just one version with a starting price of RMB 289,800.
Compared to the previous starting prices of these two models, the Han DM-i is RMB 28,000 lower and the Han DM-p is RMB 32,000 lower.
The 2023 Han DM-i is available in four versions with an NEDC pure electric range of 121 km and two other versions with 200 km. The new Han DM-p has an NEDC pure electric range of 200 km.
Of the 8,051 orders received on launch day, the average price exceeded RMB 240,000, with 35.9 percent of consumers ordering the model with a 200-km range, BYD said today.
The massive price war that erupted in China's auto industry in March is seen as having largely subsided, though BYD's strategy of making prices even lower by releasing new models is making things interesting.
Many BYD models are offered in both pure electric and plug-in hybrid versions, with the latter may also include a DM-i version that focuses more on fuel economy and a DM-p version that focuses more on performance.
On March 16, BYD made the 2023 Han EV available for a starting price of RMB 209,800, down from RMB 219,800 for the model's 2022 version.
On May 10, BYD made a revamped version of its all-electric Seal sedan available, with a starting price of RMB 23,000 lower than the previously available model.
BYD aims to sell at least 3 million vehicles this year and strives to reach 3.6 million, the company's chairman and president Wang Chuanfu said at a March 29 investor conference.
The company sold 210,295 NEVs in April, up 98.31 percent from 106,042 a year earlier and up 1.55 percent from 207,080 in March, data released earlier this month showed.
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BYD launches facelifts of Han sedan's hybrid variants with lower prices
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