The mobile app for Nio’s sub-brand Firefly has been making waves in China, attracting a significant number of new users from outside the Nio community. Within just 72 hours of its launch, the app has already amassed six figures in cumulative user registrations, indicating a strong interest in the brand.
According to sources familiar with the matter, the percentage of new users from Nio and its other sub-brand Onvo has decreased significantly since the launch of the Firefly app. This suggests that Firefly is successfully reaching a wider audience beyond its existing customer base.
Nio Day 2024, which took place on December 21, marked the official launch of the Firefly brand and unveiled its first model, the Firefly. The model received widespread attention for its unique headlight design, sparking both controversy and intrigue among consumers.
Pre-sales for the Firefly model began at RMB 148,800 ($20,390) during Nio Day 2024, with Chinese customers able to reserve the model by paying a RMB 199 deposit and receiving a RMB 2,000 discount on the purchase. Despite the attention garnered by the Firefly model, Nio has not announced pre-sales orders for it as they have done for their other models.
The Firefly app’s rapid user growth and the buzz surrounding the Firefly model indicate a promising future for Nio’s sub-brand. However, some analysts, such as Deutsche Bank’s Wang Bin, remain cautious about the sales outlook for the Firefly model due to its unique exterior design. They expect monthly sales for both the Firefly and Nio’s ET9 model to be around 1,500 units.
Looking ahead, Nio plans to expand the Firefly brand beyond China, with plans to launch the Firefly’s first model in Europe in the first half of 2025. This move is expected to further increase the brand’s global presence and attract a broader customer base.
Overall, the success of the Firefly app and the launch of the Firefly model signal a new chapter for Nio’s sub-brand, with potential for growth and innovation in the electric vehicle market.
