Nio, the Chinese electric vehicle (EV) maker, has officially introduced its latest brand, Firefly, at the Nio Day 2024 event in Guangzhou, Guangdong province. The Firefly brand is positioned to compete with the likes of BMW Mini and Mercedes-Benz’s Smart in the global market.
The first model under the Firefly brand, also named Firefly, was unveiled at the event. This premium boutique small car is set to be launched in April 2025, with pre-sales starting in China at a price of RMB 148,800 yuan ($20,390). Notably, this price matches the discounted starting price of the electric Mini Cooper in China, showcasing Firefly’s competitive pricing strategy.
One of the key features of the Firefly model is its support for battery swap, a signature feature of Nio Inc’s vehicles. This may pave the way for a battery rental purchase program, making it more accessible for consumers to own an electric vehicle.
William Li, Nio’s founder, chairman, and CEO, described the Firefly as a vehicle that is smaller than a Smart car but smarter than a Mini. The design philosophy behind the Firefly model, created by Kris Tomasson, senior vice president of design at Nio, is centered around being Vivid, Thoughtful, and Solid.
In terms of safety, Nio emphasized that the Firefly model meets the latest Chinese and European crash test requirements for 5-star ratings. The use of high-strength steel and aluminum alloys in the body structure, along with other safety features like nine airbags as standard, further enhance the vehicle’s safety credentials.
While the Firefly brand was initially targeted for launch in Europe, the recent additional tariffs imposed by the EU on Chinese EVs have caused a shift in strategy. Despite this challenge, Nio remains confident in the competitiveness of the Firefly model in the European market.
Customers in China can now pre-order the Firefly model, with incentives such as discounts and bonus credit points for existing Nio and Onvo owners. The model is said to have the smallest turning radius in its class at 4.7 meters, making it agile and maneuverable in urban settings.
Overall, the Firefly brand marks Nio’s entry into the premium small car segment, offering a blend of style, technology, and safety features to appeal to global consumers. With its competitive pricing and innovative design, the Firefly model aims to carve out a niche in the competitive electric vehicle market.
