Confirmed: NIO’s Firefly brand to launch $20,000 EVs in 2025
Fresh details of new global Chinese brand suggest it will spark price war among budget EVsChinese car-maker NIO has confirmed rumours that it will launch its new Firefly EV brand in Europe in 2025, offering cut-price electric cars to rival the likes of the incoming Volkswagen ID.2 and Renault Twingo EV.
According to a Reuters reportquoting NIO CEO Lihong Li, Firefly will be sold alongside its new Alps brand that’s also developing electric cars for European tastes.
Until now,NIO has aimed its EVs at more premium car-makerslike BMW, Mercedes-Benz and Audi. However, pricing pressure from Tesla has prompted a change in strategy.
Firefly will churn out smaller, more affordable electric cars that should provide the lowest price point possible, with some predicting the range will kick off from less than 100,000 yuan ($A21,000).
Carsales LINKsure its a small car option.
