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Nio-Day 2025: New Brands Firefly & Onvo, New Flagship ET9 - It's All or Nothing

At Nio Day, everything was sunny. The Chinese car start-up presented the Firefly, an affordable electric compact car, launched the Tesla rival Onvo, and is eyeing the luxury segment with the ET9. However, behind the scenes, it is clear that Nio's fate will be decided in the next two years.

Great ambitions: The Onvo L60 competes against Tesla's Model Y. | Photo: Nio
Great ambitions: The Onvo L60 competes against Tesla's Model Y. | Photo: Nio
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The show at Nio Day was once again spectacular. Around 22,000 followers of the Chinese start-up gathered at the Haixinsha Stadium in the harbor of the southern Chinese metropolis Guangzhou (Canton) to celebrate themselves and the Chinese start-up. The MC (Master of Ceremony) was once again founder and Co-CEO William Li, who led the program with his usual routine.

But those who looked closely discovered a few new details. While it used to be international top stars like the band Imagine Dragons or Bruno Mars who added glamour to the brand gathering, it is now local stars like the "Nio Band" or the Hong Kong bard Hacken Lee, who provided powerful musical entertainment. The subtle message is clear: you no longer need international support. China is self-sufficient.

Even Mister Li steps up and takes on Maybach

Even the usually friendly and courteous William Li shifted up several gears and led a Mercedes Maybach S 580 by the nose during the presentation of the new electric flagship Nio ET9 through the arena, where it made anything but a good impression on an obstacle test track. But despite all the demonstratively displayed self-confidence, crucial times are dawning for Nio. The competition in the domestic market is becoming increasingly tougher, and the automotive start-up must finally enter the black to have a future.

"We aim to reach break-even in 2026 and then be consistently profitable," says William Li.

The signs point to growth. In November 2024, Nio delivered 20,575 units, marking the seventh consecutive month of delivering more than 20,000. Throughout the entire year, it was 190,832 models, representing an increase of 34.4 percent compared to the previous year's period. Too much to die but too little to survive in such a fiercely contested industry. To change this, Nio must also bring its products to markets outside of China.

Since the USA, the second largest car market in the world, is currently not available as a sales opportunity, Europe, and especially Germany, is becoming the focus for the Chinese car manufacturer. Here, the premium segment is still firmly in domestic hands. "You can't beat the Germans on the autobahn," a manager of the French luxury brand DS once said. This remains valid. William Li admits the mistake of focusing solely on high-priced automobiles and is changing that now.

Luxury Liner ET9 won't make it - Onvo targets Tesla

With the luxury flagship ET9 alone, no matter how good it is, this is not possible. Three brands, clearly differentiated and aiming to attract a much broader customer base than before, are supposed to lead Nio to the promised sales land. The sub-brand Onvo is set to cause a stir in the mid-range segment and is clearly targeting Tesla. This is evident with the Tesla-Y clone Onvo L60. In China, the E-Crossover is offered at a competitive price of 206,900 Yuan (around 26,000 euros) including battery, and about 19,000 euros with the battery leasing model Battery as a Service (BaaS). Significantly less than Tesla's Model Y. The L60 is particularly spacious and is intended to appeal especially to families. If Nio can continue this pricing strategy in Europe despite the tariffs, the Onvo L60 will be a success.

Firefly is meant to satisfy the hunger for affordable e-mobility

In Europe, the demand for affordable electric mobility is high. To meet this demand, Nio has launched its third brand, Firefly, from the baptismal font. "Firefly is smarter than a Mini and more Mini than a Smart," proclaims William Li to the cheers of the followers during Nio Day. The small turning circle of 9.4 meters and ample space emphasize this.

In China, the entry-level version of the Firefly costs around 19,600 euros. Nio will not be able to maintain this price in Europe due to tariffs. However, it should remain under the 25,000-euro mark to compete against rivals like the Citroën ë-C3. Therefore, the batteries must also not be too expensive. We assume there will be two battery sizes: about 40 kilowatt-hours and around 50 kWh. This would fit into the segment.

Honda-e as a model

Nio has not yet revealed the dimensions of the car. But when you look at the Firefly debutant, it quickly becomes clear that designer Kris Tomasson paid close attention to the Honda e. The design language does not please everyone. Analysts at Deutsche Bank cite the appearance as the main reason for their cautious forecast that only about 1,500 units of the Firefly will be sold per month. This will become evident once the small electric vehicle is launched in Europe in the first half of next year. Initially, there will be no local production, although Nio has this in mind for Europe. However, the numbers must add up first. William Li states that 100,000 units per year is the minimum.

Enough Batteries as a Basis

In order for this product offensive to take place at all, enough batteries are needed. And there were recently problems with BYD as a supplier. The manners among Chinese manufacturers are becoming increasingly rough. Why should BYD enable a potential competitor to win customers? According to William Li, this is no longer an issue, as they have three suppliers, including CATL, on board. "The battery is no longer a bottleneck," beams the Nio CEO.

Despite the fast 900-volt charging technology, Nio is sticking to the battery swap stations, which now exchange the batteries within three minutes and also relieve the driver of maneuvering. The pace in China is breathtaking. "We put 200 new swap stations into operation in December," Li reports. In Europe, it doesn't happen quite as quickly. The technology is to be established together with partners. A factory near Budapest already exists. In addition, the Firefly models, which have smaller batteries, are to receive cheaper swap stations.

Wolfgang Gomoll; press-inform

Translated automatically from German.
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