Overview

• NIO's affordable Firefly sub-brand, designed with families in mind, will launch in Europe in 2025.
• The Firefly EVs are expected to be smaller and more affordable, targeting the price range of $14,000-$28,000.
• NIO's second sub-brand, Alps, is also expected to launch in Europe, with a targeted price range of $28,000-$42,000.
• NIO is facing growing losses due to a price war initiated by Tesla, leading to a 10% workforce reduction and consideration of division separations.
• NIO has formed partnerships to help fund ventures such as battery swapping and has signed a third partnership agreement, details of which are yet to be disclosed.