BEIJING (Reuters) – Chinese electric vehicle (EV) maker Nio has unveiled plans to launch its new Firefly brand in Europe by the first half of 2025. The move comes as the company seeks to counter the impact of European Union tariffs on Chinese-made EVs and increase its market share in a competitive region.
Firefly: A New Challenger in the European EV Market
Nio CEO William Li announced the Firefly brand during a press event in Guangzhou, emphasizing its competitiveness against established European models like Mercedes’ Smart and BMW’s Mini. The Firefly has been designed to capitalize on Nio’s decade-long investment in smart EV technologies, offering an affordable yet advanced alternative for European consumers.
Li acknowledged that the EU tariffs imposed in October on Chinese EVs, including those from Nio, present a challenge. “If there weren’t tariffs, it definitely would have a better chance in the market,” Li said. However, he remains optimistic about Firefly’s prospects, citing its innovative technology and cost-efficiency as key strengths.
Strategic Partnerships and Infrastructure Expansion
To facilitate the Firefly’s launch, Nio plans to collaborate with local partners for sales and service operations across European markets. The company is also prioritizing infrastructure development, particularly battery swapping stations.