Nio will launch its Firefly model in Europe in 2024, with the Alps model more likely to observe after 2025, Reuters quoted the EV maker’s president as saying.
(Picture credit score: CnEVPost)
Nio (NYSE: NIO) will launch its cheaper sub-brand codenamed Firefly in Europe in 2024, Reuters quoted the Chinese language electrical automobile (EV) maker’s co-founder and president, Qin Lihong, as saying in a report at this time.
The plan is a 12 months sooner than beforehand disclosed, the Reuters report famous. One other Nio sub-brand, codenamed Alps, will probably be launched in Europe after 2025, the report quoted Qin as saying.
Each manufacturers will make household vehicles, with Firefly providing smaller fashions, Qin mentioned in a information convention on-line at this time, in accordance with the report.
Nio’s administration first confirmed in August 2021 that the corporate would enter the lower-priced mass market with a sub-brand, mentioning the sub-brand’s inside codename of Alps in subsequent communication.
On January 26, Qin mentioned that along with Alps, one other Nio sub-brand, codenamed Firefly, was within the planning phases and can be delivered first to European shoppers.
The Firefly mannequin would debut in Europe and was anticipated to go on sale within the third quarter of 2024, Qin mentioned on January 26 at a face-to-face occasion with Nio automobile homeowners.
In China, the Alps sub-brand is seen to be aimed primarily on the market priced at RMB 200,000 ($28,130) – RMB 300,000, whereas the Firefly model is seen to be aimed on the market priced inside the RMB 200,000 vary.
On February 21, native media outlet Cailian reported that Nio’s fourth automobile meeting plant will probably be arrange in Chuzhou, Anhui province, and can produce Firefly fashions.
Nio’s autos are at present produced at its F1 and F2 vegetation in Hefei, Anhui province.
Talking with home media yesterday, William Li, Nio’s founder, chairman and CEO, mentioned that Alps is focusing on the household market with solely three fashions in its full life cycle.
Li additionally talked about that Nio will probably be in a studying part in increasing in abroad markets for a very long time to come back, and these efforts won’t assist gross sales a lot within the quick time period.
($1 = RMB 7.1103)
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