China’s Nio says new Firefly EV to go on sale in Europe in H1 2025

BEIJING (Reuters) -China’s Nio (NYSE:NIO) on Sunday mentioned it will launch its new Firefly electrical car model in Europe early within the first half of 2025, betting that it will assist the corporate overcome European Union tariffs.

William Li, Nio’s CEO, informed reporters in Guangzhou that the corporate will work with native companions on the sale and repair of the Firefly in European markets.

Nio unveiled the Firefly model on Saturday and touted it as a rival product to Mercedes’ Good and BMW (ETR:BMWG)’s Mini.

The corporate initially conceived Firefly to spice up its market share in Europe however the European Fee in October imposed tariffs on its and different Chinese language-made EVs bought in Europe.

Li mentioned the tariffs would “undoubtedly have” an impression on Firefly. “If there wasn’t tariffs, it undoubtedly would have a greater probability available in the market.”

“Even so, Firefly may be very aggressive as a result of it’s a product developed with actual good EV applied sciences, which Nio has been investing for a decade. We’re assured in its product competitiveness.”

Li additionally mentioned Nio would speed up constructing battery swapping stations in Europe with easier designs that save time and prices for building.

The battery swapping stations for Firefly automobiles will value a 3rd lower than these for Nio-branded automobiles in Europe, Li mentioned, including they’re additionally in search of native companions on infrastructure enlargement within the area. Infrastructure is a key bottleneck for EV progress globally, which has been slowing this 12 months.