Nio may not have the widespread recognition of Tesla or fellow Chinese EV maker BYD, but it has launched two new EV brands within the past year to drive sales by offering lower-priced EVs compared to its premium models.
The second of these brands, the youth-oriented Firefly, was formally launched on Dec. 21 during the Nio Day 2024 gathering held in Guangzhou, China.
It follows the launch of the family-oriented Onvo brand in May, whose debut model is the Tesla Model Y-rivaling L60 compact crossover.
Firefly has been launched with a subcompact hatch that doesn’t yet have a name but is scheduled to start sales in China in spring 2025, priced from 148,800 yuan (approximately $20,400). Sales are slated to start in Europe later in 2025. Given the tariffs the U.S. has placed on Chinese-made EVs, a launch in this market is unlikely, which is also the case for Nio’s other EVs.
Nio launches Firefly EV brand during Nio Day 2024
Despite being Nio’s entry-level brand, the Firefly EV features a focus on safety, as well as dynamics and technology. Nio is saving most of the details until closer to the market launch but confirmed features like a tight 15.4-foot turning circle and automated parking technology.
The automaker also said it expects the EV to achieve five-star crash safety ratings in China and Europe. The vehicle’s body features much higher torsional stiffness and high-strength steels than typically found in vehicles in this segment. The front doors also feature double anti-collision beams for better side impact protection, Nio said.
Nio was founded in late 2014 and, as of Nov. 30, 2024, has delivered a cumulative total of 640,426 vehicles.
