Written by Cláudio Afonso | LinkedIn | X
Firefly, Nio’s second brand, was initially planned to be unveiled in Europe. However, extra tariffs on China-made EVs imposed by the European Commission forced the company to start with the Chinese market, where it can offer the model at a significantly lower price, with European and (global) markets following at a later stage.
The additional duties, which are in addition to the EU’s standard 10% import tariff on vehicles, increase the price of EVs by an extra 20.7% for companies that cooperated with the investigation, including Nio.
“Even so, Firefly is very competitive because it is a product developed with real smart EV technologies, which Nio has been investing in for a decade. We are confident in its product competitiveness,” the company’s founder and CEO told reporters after Nio’s annual event last month.
Li confirmed that the Firefly model, which shares the name of the brand, will be sold via distribution partners established in each country.
“We need the partners to be fully ready,” Li added before revealing that the company has already reached an agreement with “many” partners in Europe.
Speaking to the local media outlet Bilbransje24, the lead of the Nordic market An Ho said on Tuesday he’s “pretty sure Firefly will come to Norway.”
“We’ll discuss this during the first half of the year. The signals so far are that this brand will come in the summer,” he added. An Ho stated the company has not decided yet on the sales model.
“We have not decided on that. The alternatives are to include it in our existing network, or possibly a combination of our own dealers and private players. Discussions are now starting around Europe about how Firefly will be distributed,” he said.
Asked about Onvo, the other brand under the group, Ho said the team “doesn’t know anything about Onvo yet”. “We haven’t received any information here,” he stated.
Onvo was unveiled in May last year and started deliveries of the first model in September. This year, the brand will launch another two SUVs in the Chinese market.
Nio’s registrations in Norway increased by 43% in 2024, reaching 890 units, up from 621 in 2023. However, this figure remains lower than the 1,100+ units registered in 2022.
Written by Cláudio Afonso | LinkedIn | X
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