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

BEIJING (Reuters) -China’s Nio (NYSE:) on Sunday talked about it might launch its new Firefly electrical automotive mannequin in Europe early throughout the first half of 2025, betting that it might help the company overcome European Union tariffs.

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

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

The company initially conceived Firefly to boost its market share in Europe nonetheless the European Payment in October imposed tariffs on its and completely different Chinese language language-made EVs purchased in Europe.

Li talked about the tariffs would “undoubtedly have” an have an effect on on Firefly. “If there wasn’t tariffs, it undoubtedly would have a better likelihood accessible available in the market.”

“Even so, Firefly might be very aggressive on account of it’s a product developed with precise wise EV utilized sciences, which Nio has been investing for a decade. We’re assured in its product competitiveness.”

Li moreover talked about Nio would velocity up establishing battery swapping stations in Europe with easier designs that save time and costs for improvement.

The battery swapping stations for Firefly vehicles will worth a third decrease than these for Nio-branded vehicles in Europe, Li talked about, together with they’re moreover trying to find native companions on infrastructure progress throughout the space. Infrastructure is a key bottleneck for EV improvement globally, which has been slowing this 12 months.