Nio Unveils Firefly Brand to Compete with BMW Mini and Mercedes Smart
GUANGZHOU: Nio launched a new, budget-friendly brand called Firefly on Saturday, positioning it as a competitor to Mercedes’ Smart and BMW’s Mini in the Chinese electric vehicle market. This move is part of Nio’s strategy to expand its customer base and increase sales.
CEO William Li introduced the new brand at the company’s annual event in Guangzhou, revealing that pre-sales had already begun with prices starting at 148,800 yuan ($20,394). He showcased three Firefly models in lavender, lemon, and beige, highlighting features like a 4.7-meter turning radius and autonomous parking technology.
Orders can be placed through the Firefly app, with the official launch scheduled for April. Li emphasized, “We are building the Firefly car to be smarter than Mini and more Mini than Smart cars.”
In China, BMW’s all-electric Mini starts at 148,800 yuan, while Mercedes’ Smart #1 is priced from 154,900 yuan. Firefly will also compete with domestic brands such as BYD’s Seal and Xpeng’s Mona.
Nio, one of China’s leading EV manufacturers, has been responding to increased price competition by releasing more affordable models this year, including the “Onvo” unveiled in May.
While Nio initially aimed for Firefly to boost its European market share, the European Commission imposed a 20% tariff on Nio cars, including Firefly EVs, which could significantly affect the brand’s competitiveness in Europe. Li did not disclose specific plans for Firefly’s availability in Europe.
Nio has set ambitious goals to double its sales by 2025 and break even by 2026, though it acknowledged this month that its sales growth is currently two years behind schedule. The company is also planning to release its first extended-range hybrid model under the Firefly brand in 2026 for overseas markets.
