Written by Akimoto Yukiko
Daniel Jin, the president of Nio‘s new sub-brand Firefly, joined Nio in January 2022 to “create a brand-new platform for the global market.” After having spent over a decade linked to China’s SAIC Motor, the executive is expected to, alongside the company’s founder and CEO William Li, introduce Firefly to over twenty thousand attendees of Nio’s annual event.
With its launch scheduled for Saturday, December 21, the brand will first debut in China in the first half of next year followed by the expansion to the European market later in the year, according to Daniel Jin.
As shared last week by William Li, Firefly will focus on the high-end small car segment, competing with BMW’s Mini and Mercedes-Benz Smart brands
The brand’s chief explained that Firefly focuses on three main aspects: handling, space, and safety. The target audience includes city commuters, young professionals buying their first car, and families looking for a second vehicle.
As reported earlier today, Nio unveiled the logo of Firefly as it opened the official brand account across several social media platforms.
Nio aims to enter at least 25 global markets by the end of next year while doubling sales to over 440,000 units with Firefly planned to be one of the major contributors.
According to a report from the Chinese media outlet 36kr, the suspension system is tuned differently for each region, and Firefly will use separate swap stations from Nio and Onvo.
Regarding the battery swap network, the executive clarified that the battery swap stations will be deployed gradually based on demand, with overseas markets relying on partnerships for station setups. Daniel Jin expects slower growth in overseas markets initially but sees significant potential for expansion in the long term.
Firefly is expected to contribute positively to the company’s overall profitability. CEO William Li has set clear ROI (return on investment) targets for Firefly, and Daniel Jin emphasized that the project must be profitable and will not negatively impact the group’s margins.
The executive defended that the model will offer high safety standards and aims to be the smartest in its segment, with excellent space utilization.
In early November, Nio’s Co-Founder and President, Lihong Qin, dismissed a report by the Chinese outlet Yicai that claimed Firefly would launch an extended-range electric vehicle (EREV) in 2026.
Unlike Nio’s other sub-brand, Onvo, which plans to offer a total of three models from the last quarter of next year, Firefly will focus on a single performance-oriented product, according to a report from the media outlet ITHome.
The Firefly brand will arrive in the European market next year despite the tariffs on Chinese-made EVs. Nio aims to position Firefly as an affordable yet high-quality electric vehicle brand designed with European consumers in mind.
According to official filings published earlier this year, Nio’s Firefly production facility in China is expected to produce up to 120,000 units annually.
Written by Akimoto Yukiko
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