Nio‘s third brand, Firefly, officially began delivering its first model on April 29, 2025. The compact electric vehicle, unveiled on April 19, has a starting price of 119,800 yuan (16,500 USD), a substantial 30,000 yuan ($4,130) reduction from its pre-sale price of 148,800 yuan. This aggressive pricing strategy has attracted consumer interest, with sales representatives reporting impressive early results.

“According to my understanding, over a thousand orders were received in just the first hour of the launch livestream,” a sales representative at a showroom in Beijing’s Chaoyang district told reporters. The representative added that their location alone had secured over a dozen confirmed orders, with many more potential customers expected to convert after test drives.

The Firefly EV features a distinctive design with three circular light rings at both front and rear, creating a recognisable visual signature. Its compact dimensions measure 4003×1781×1557mm with a wheelbase of 2615mm, making it ideal for urban environments with a class-leading turning radius of 4.7 meters.

Powered by a single electric motor producing 105kW (141hp), the vehicle offers two battery options. The standard range version comes with a 42.1 kWh battery pack weighing 314kg and delivering a range of 420km.

Safety features include nine airbags as standard equipment, with side curtain airbags covering from A-pillar to C-pillar, offering 40% more coverage than competitors in its class. The vehicle also utilises submarine-grade 2000MPa materials for its rear crash beam.

Jin Ge, Firefly’s president, explained the pricing strategy: “The 119,800 (16,500 USD) yuan price point was determined by considering both product profit margins and the current market sentiment, user emotions, and competitive environment.”

Nio chairman William Li has set a target for Firefly to account for 10% of the company’s total sales volume in the long term. The brand will also introduce a Battery as a Service (BaaS) option starting August 1, allowing customers to rent rather than purchase the battery, further reducing the initial purchase price.

Firefly has ambitious international plans, with scheduled launches in 16 countries this year, including the Netherlands, Norway, Israel, Costa Rica, Nepal, Singapore, Denmark, Portugal, Belgium, Luxembourg, Austria, Poland, Uruguay, Colombia, Palestine, and New Zealand.

The vehicle is positioned as a premium compact EV targeting middle-class families looking for a second car and young professionals making their first purchase. Jin Ge believes the Chinese pure electric small car segment will expand to 2 million units in the next 2-3 years, with premium small cars accounting for approximately 10% of this market.

With Firefly now joining Nio’s multi-brand strategy alongside its leading Nio brand and second brand Onvo, the company has entered a new phase of operating three brands across multiple platforms, presenting both opportunities and challenges for its system capabilities.

Source: Cailian Press