Chinese electric vehicle maker Nio said it has delivered its 10,000th vehicle under the Firefly sub-brand, about three months after its market debut. The milestone marks a promising start for the company’s new premium compact car offering.
The Firefly brand, officially launched at Nio Day on December 21, 2024, introduced its first and only model to date on April 19. Priced competitively, the vehicle is offered in two trims starting at RMB 119,800 ($16,710) and RMB 125,800, inclusive of the battery.
Firefly expanded its appeal further in late June with the introduction of a Battery-as-a-Service (BaaS) option, lowering the initial purchase price to RMB 79,800 while requiring a monthly battery rental fee of RMB 399.
Originally slated for a European debut, the brand adjusted its strategy and began sales in China due to rising import tariffs. However, deliveries to Europe are still on the horizon. “Deliveries of Firefly in Europe will begin soon,” Nio founder, chairman, and CEO William Li said today, according to a statement released on the company’s mobile app.
Firefly is positioned to compete with urban electric vehicles from established players like BMW’s Mini and Mercedes-Benz’s Smart. With its compact design and flexible pricing model, Nio aims to capture market share in the fast-growing budget EV segment, both domestically and abroad.