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    Nio Introduces Affordable EV Brand Firefly With $20,000 Hatchback

    Image Source: Robert Way b/ Shutterstock

    While Nio may not enjoy the same level of fame as Tesla or fellow Chinese EV manufacturer BYD, it has introduced two new electric vehicle brands over the past year aimed at boosting sales by providing more affordable options alongside its premium offerings.

    The latest brand, targeting a younger audience, is called Firefly and was officially introduced on Dec. 21 during the Nio Day 2024 event held in Guangzhou, China.

    This follows the earlier establishment of the family-focused Onvo brand in May, which debuted with the L60 compact crossover, aimed to compete with the Tesla Model Y.

    Firefly made its debut with a subcompact hatchback, which has not yet been named but is expected to begin sales in China in spring 2025, starting at 148,800 yuan (around $20,400). Plans are in place for sales to commence in Europe later in 2025. Due to tariffs imposed by the U.S. on electric vehicles from China, the chances of entering this market appear slim, similar to Nio’s other models.

    Although positioned as Nio’s entry-level brand, the Firefly EV emphasizes safety, performance, and technology. Most details are being kept under wraps until the launch date approaches, though features confirmed so far include a compact 15.4-foot turning radius and automated parking capabilities.

    The automaker anticipates that the vehicle will obtain five-star crash safety ratings in both China and Europe. The structure of the vehicle is designed with significantly higher torsional rigidity and more high-strength steel than is typical for vehicles in this segment. Additionally, Nio has incorporated double anti-collision beams in the front doors to enhance protection against side impacts.

    Nio, which was established in late 2014, reported delivering a total of 640,426 vehicles as of Nov. 30, 2024.

    Image Source: Robert Way b/ Shutterstock

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