Nio Introduces Firefly Cars to Challenge Mini Cooper and Smart
Chinese electric vehicle (EV) manufacturer Nio has revealed its latest offering, the Firefly branded cars, aiming to compete with BMW's Mini and Smart from Mercedes-Benz. The new small car, unveiled at the Nio Day event in Guangzhou, incorporates cutting-edge EV technologies and is priced at 148,000 yuan (US$20,284), with deliveries set to commence in April.
Nio's CEO, William Li, expressed the company's commitment to a sustainable future, stating, "Nio will build best electric cars for global customers." The Firefly model will feature Nio's innovative battery swap technology, enabling quick battery exchanges and self-parking capabilities.
Deutsche Bank predicts that Nio could deliver 8,000 units of the Firefly model by 2025. This launch marks Nio's third brand, following its premium line and Onvo targeting middle-income consumers in China. The Firefly cars are positioned as smarter and more stylish than competitors, offering advanced features at an affordable price point.
In China, where competition in the EV market is intense, Nio's Firefly will rival electric cars from BYD and Xpeng, known for their budget-friendly models. Despite facing a 20.7% tariff in the European Union, Nio remains confident in the Firefly's competitiveness in the region. The company's focus on EV research and development over the past decade is expected to pay off.
Alongside the Firefly launch, Nio introduced the ET9 executive sedan priced at 788,000 yuan, featuring a fully active integrated hydraulic suspension system for a smooth ride. Powered by a 120 kWh battery pack with high energy density, the ET9 is set to hit the roads in March, offering luxury and innovation to consumers.
Nio unveils Firefly cars to compete with Mini Cooper and Smart.
Firefly model priced at 148,000 yuan with advanced EV technologies.
Nio aims to deliver 8,000 units of Firefly by 2025.
Source: SCMP