Nio is set to introduce a more affordable sub-brand, code-named Firefly, in the European market by 2025, according to a recent report from Reuters. The information was shared by Qin Lihong, co-founder and president of Nio, during a wire press conference.
Both Firefly and another sub-brand, codenamed Alps, are expected to focus on family cars, with Firefly specializing in smaller models, as stated by Qin during the press conference. Nio had initially confirmed its intention to enter the lower-priced mass market with a sub-brand in August 2021, referring to the sub-brand internally as Alps in subsequent communications.
On January 26, Qin revealed that, in addition to Alps, another sub-brand named Firefly was in the planning stages and would be the first to be delivered to European consumers. The Firefly model is anticipated to make its debut in Europe, with sales expected to commence in the third quarter of 2024, as announced by Qin during a face-to-face event with Nio vehicle owners.
In China, the Alps sub-brand is positioned in the market priced between RMB 200,000 ($28,130) and RMB 300,000, while the Firefly brand is targeted at the market within the RMB 200,000 range. Local media outlet Cailian reported on February 21 that Nio's fourth vehicle assembly plant will be established in Chuzhou, Anhui province, and will be dedicated to producing Firefly models. Currently, Nio's vehicles are manufactured at its F1 and F2 plants in Hefei, Anhui province.
der, chairman, and CEO, William Li, shared in a recent conversation with domestic media that Alps is designed to cater to the family market with only three models throughout its full life cycle. Li also emphasized that Nio anticipates a prolonged learning phase in expanding into overseas markets, and these efforts may not yield significant sales gains in the short term.