Firefly’s first EV appeared in the spy shots, revealing a compact shape similar to Zeekr X, Volkswagen ID.3, or upcoming BYD Yuan UP. The brand will launch in early 2025 in Europe, according to Nio’s president, Qin Lihong.

Judging by spy shots shared by HiEV, the new EV has a round and cute, almost hatchback-like exterior. However, based on slightly higher ground clearance, it will most likely be a small SUV. In the rear, we can see the sporty spoiler.

The new Firefly (a codename) will be Nio’s mass-market brand positioned in the 100,000 – 200,000 yuan (14,000 – 28,000 USD) segment. Unlike other Nio models, it will debut its first model in Europe, where the brand will also launch. Firefly will focus on small, affordable cars and target young buyers. According to MyDrivers, the first EV will debut in Europe in the third quarter of this year.

According to previous reports, the third Nio brand will be manufactured in Chuzhou, Anhui province, rebuilt from the former Cheetah Automobile Factory. The facility will start mass production in late 2024, and the production capacity is 450,000 cars.

Nio currently sells cars under the Nio marque and will soon launch its second brand. According to previous reports, the new brand will launch in April and start deliveries of its first model, codenamed DOM, in the second quarter. Alps will be positioned between Firegly and Nio-badged cars with a price tag between 200,000 and 300,000 yuan (28,000 and 42,000 USD).

In Europe, Nio sells its premium brand in five countries – Germany, Netherlands, Sweden, Denmark, and Norway. Germany is its biggest EU market. Hefei-based automaker registered 26 EVs there in January, up 2,600% from 1 EV in January the year before and down 31% from 39 EVs in December. Nio officially entered Germany in October 2022 and started deliveries a month later.

In 2023, Nio delivered 1,263 EVs in Germany. The cumulative deliveries since the market entry in 2022 are 1,788 units.

Nio delivered 160,038 vehicles in 2023 globally, missing its annual target of 245,000 units. Their 2024 goal is to deliver 230,000 vehicles globally.