NIO executives have unveiled details about the automaker’s third EV brand, Firefly, as well as the name of its first model, which will be revealed during the company’s 10th annual NIO Day event on December 21, 2024. Firefly is an affordable boutique EV marque, designed to offer smaller, innovative models at more accessible price points, targeting a range between RMB 100,000 ($13,800) and RMB 200,000 ($27,500).
Firefly marks NIO’s continued expansion into the affordable EV segment, following the earlier launch of the Onvo brand (previously codenamed “Alps”), which debuted the L60 SUV this year. Despite tariffs on Chinese-built EVs entering Europe, NIO is confident that the Firefly brand will perform well, with plans for both domestic and European market launches. Firefly’s focus will be on design, safety, space, intelligence, and energy efficiency, offering a comprehensive EV experience in a smaller package.
NIO has confirmed that the first vehicle under the Firefly brand will carry the same name and is expected to begin deliveries in China in the first half of 2025. The company aims to rapidly expand its product offerings under both its Onvo and Firefly brands, supporting its goal for faster global growth. The Firefly EV will be showcased at NIO Day 2024, with more details and pricing expected at the event.
In addition, NIO reassured that the Firefly brand would continue focusing solely on battery electric vehicles (BEVs), countering earlier speculation about hybrid models. The company’s Weibo page teased that the upcoming NIO Day event will highlight its “rechargeable, replaceable, and upgradeable” approach to electric technology, reinforcing the brand’s commitment to sustainable mobility.