Smart and Sustainable Electric Mobility
In the long term, if local sales reach a certain level, say 100,000 units, local production should take place, Nio CEO William Li said.
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Firefly's first model will make its debut in China, possibly at the end of this year, before launching in Europe in the first half of next year, according to local media.
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Nio's Firefly project will offer smaller models and is expected to target the market with a price tag of less than RMB 200,000 yuan.
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The Firefly brand, while focused on small cars, will be based on five-star European safety standards and will support battery swap, Nio CEO William Li said last week.
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Although the car is tightly wrapped in camouflage, it can be seen looking similar to the Zeekr X or Volkswagen's ID.3.
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Previous reports said Firefly models would be built at Nio's F4 plant in Chuzhou.
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Nio will launch its Firefly brand in Europe in 2024, with the Alps brand likely to follow after 2025, Reuters quoted the EV maker's president as saying.
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The first Firefly model has seen a design freeze in late June and is expected to enter the mold development phase in early August, allaying employee fears that the project could be scrapped, according to local media.
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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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NIO aims to grab market share from Volkswagen by introducing a model priced below 30,000 euros to the European market, a German magazine quoted William Li as saying.
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NIO (NYSE: NIO) aims to grab market share from Volkswagen by introducing a model to Europe priced under 30,000 euros ($33,060), according to a Reuters report today.
William Li, the founder, chairman and CEO of the Chinese electric vehicle company, told German magazine Der Spiegel about the plan, according to the report.
"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.
Li has previously said on several occasions that NIO is creating two sub-brands codenamed ALPS and Firefly to target the broader mass market.
On January 26, NIO co-founder and president Qin Lihong said at a face-to-face communication with owners that NIO is preparing models for a sub-brand codenamed ALPS, with deliveries expected to begin within 2024.
The Firefly project is also in the planning stage and will be delivered first to European consumers, Qin said.
A 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.
A source told CnEVPost on January 31 that NIO's F4 plant for the Firefly project will be located in Chuzhou, Anhui province, while the F3 plant for the ALPS project will continue to be located in Hefei, which is home to two current NIO plants.
The F4 plant will also assemble vehicles for the Firefly project and produce some parts, the source said, adding that the brand will initially produce vehicles mainly for export to Europe, with production scheduled for the third quarter of 2024.
The Chuzhou plant will produce small cars priced at around 100,000 yuan (15,000), the source said.
The F3 plant, which will remain located in NeoPark, will mainly produce models under the mid- to high-end sub-brand internally codenamed ALPS, targeting a market with prices ranging from RMB 150,000 to RMB 300,000, according to the source.
On February 21, local media Cailian reported, citing sources familiar with the matter, that NIO's fourth vehicle assembly plant will be located in Chuzhou, Anhui province, and will produce models of the Firefly.
The Firefly model will first be sold in Europe, targeting the Volkswagen POLO market, Cailian said, citing the source, adding that, like NIO's other products, they will support battery swap.
Compared to the main NIO brand and the ALPS program, the Firefly models will have weaker smart driving features, but they will still have a significant smart advantage over the European carmaker's offerings, the source said.
NIO is currently switching models based on the NT 1.0 platform to the NT 2.0 platform, while the ALPS project, which targets a price tag of around RMB 200,000, will be based on the NT 3.0 platform, a Yicai report said on February 21.
The main NIO brand's models are too large for European consumers, and the Firefly project's smaller models will be more popular with European consumers, Yicai said, citing an unnamed NEV company executive.
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