Nio Launches Firefly EV Brand Targeting Compact Car Market

The $20,400 Firefly hatchback aims to compete with BMW's Mini and Mercedes' Smart, with deliveries set to begin in China in April 2025 and Europe later in the year.

• Nio's Firefly brand was officially unveiled at the company's annual event, marking its entry into the compact EV market with a single model priced at 148,800 yuan ($20,400).
• Deliveries for the Firefly will begin in China in April 2025, with European deliveries expected in the first half of the year through local distribution partners.
• The Firefly is designed to rival established compact cars like BMW's Mini and Mercedes' Smart, featuring autonomous parking and battery-swapping capabilities.
• Nio plans to introduce cost-effective battery swap stations for Firefly vehicles in Europe, reducing construction costs by a third compared to its existing stations.
• Deutsche Bank forecasts modest sales of 1,500 units per month for the Firefly, citing its unique exterior design as a potential limiting factor for demand.

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