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Entry-level sedan will be the first car from Nio’s budget electric brand

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Max McDee, 03 August 2022

NIO

Nio has been working on its third separate brand under the name of Project Firefly. The goal is very simple - offer budget-friendly electric cars starting at around $15,000. Since Nio itself offers upmarket vehicles with much higher prices, it makes sense for the company to make a clear distinction between the two lines.

Project Firefly will not be aimed at Mini EV market Project Firefly will not be aimed at Mini EV market

A lot is happening at Nio lately, its second brand Alps is nearing the launch of its first EV, the Project Firefly started around the same time as Alps apparently, but it is developing a bit slower. The rumors were pointing to the first car being aimed at the Baojun KiWi EV customers.

That appears to be incorrect as the founder of Nio, despite being highly impressed with the KiWi EV after test driving it, confirmed during the earnings call that the company is not interested in entering the Mini EV market.

NIO ET7 is an upmarket electric sedan - will we see entry level sedan from FY? NIO ET7 is an upmarket electric sedan - will we see entry level sedan from FY?

Nio’s deliveries are growing steadily, The ET7 based on the new 2.0 platform is already being shipped, Nio ES7 will begin deliveries on August 28 and the ET5 will begin shipping in September. Nio ES8, ES6 and EC6 are all available after getting cockpit software and hardware upgrades. The company is looking at 48,000 vehicles to be delivered in Q3.

The Project Firefly is clearly going to compete with Leapmotor, Neta and some other local Chinese brands, and it will be a 4-door sedan.

Sedans are the highest selling models in China - source Statista Sedans are the highest selling models in China - source Statista

With the founder confirming the Mini EV market is out of interest and the $15,000 EVs being mostly hatchbacks or small SUVs, a sedan sounds like a good option, especially since this is one of the most popular car types in China with 2.99 million sedans sold across the country last year alone.

Source

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  • Take a look at Nio's Onvo L90 SUV in all its massive glory Take a look at Nio's Onvo L90 SUV in all its massive glory

Reader comments

M
  • MaxMcDee
  • Stf
  • 11 Aug 2022

That's quite interesting - I went with Yicai report which quoted JP Morgan and Morgan Stanley to arrive at those numbers. Probably good idea to look at the numbers again next month to see what actually NIO did manage to achieve.

  • Reply
S
  • Standa
  • gEt
  • 06 Aug 2022

Are you sure with 48k for Q3? I thought the Morgan Stanley figure of 36-38 was for the whole quarter, including July. Just asking.

  • Reply
C
  • CptPower
  • Lfw
  • 06 Aug 2022

With a competitive price it could be great car.

  • Reply
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Total reader comments: 3

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