Nio Firefly's first model is expected to be ready by the end of this year, with the smart driving system to be based on a vendor-supplied solution, according to local media.
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Category: NIO Firefly
The Firefly brand won't be able to use Nio's existing battery swap stations, it will have dedicated smaller stations, William Li said.
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In the long term, if local sales reach a certain level, say 100,000 units, local production should take place, Nio CEO William Li said.
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Firefly's first model will make its debut in China, possibly at the end of this year, before launching in Europe in the first half of next year, according to local media.
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Nio's Firefly project will offer smaller models and is expected to target the market with a price tag of less than RMB 200,000 yuan.
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The Firefly brand, while focused on small cars, will be based on five-star European safety standards and will support battery swap, Nio CEO William Li said last week.
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Although the car is tightly wrapped in camouflage, it can be seen looking similar to the Zeekr X or Volkswagen's ID.3.
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Previous reports said Firefly models would be built at Nio's F4 plant in Chuzhou.
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Nio will launch its Firefly brand in Europe in 2024, with the Alps brand likely to follow after 2025, Reuters quoted the EV maker's president as saying.
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The first Firefly model has seen a design freeze in late June and is expected to enter the mold development phase in early August, allaying employee fears that the project could be scrapped, according to local media.
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