Nio will launch cheaper Firefly branded cars in Europe in 2025

Nio is already present in a bunch of countries in Europe, where it's selling a few of its models. The company has also started to build battery swapping stations in Europe, but it looks like its plans for the continent are even grander for the future.

Nio co-founder, president and director Lihong Qin, speaking in a news conference online earlier today, said his company will launch a cheaper brand, called Firefly, in Europe in 2025.

Both Firefly and Alps, its other sub-brand, are going to focus on producing cars for families, but Firefly will offer smaller models, he added. Unfortunately, he didn't go into any more details. Alps hasn't been confirmed to arrive in Europe.

With a launch in Europe in 2025, we expect that more information will become available about Firefly's activities in the continent, in the second half of next year.

The general strategy here seems to be pretty obvious: keep Nio as the premium brand, but have something for those who aren't willing to pay such high prices too - that's where Firefly comes in. The Nio brand isn't 'cheapened', while Nio can still profit from the demand at the lower-end of the European market.

Source