For Nio, the Chinese brand specializing in high-end electric cars, here is the next step to continue its conquest of the European market: the launch of a 100% electric compact model.
Since its creation in 2014, the Chinese Nio brand has often been compared to Tesla. The similarities are numerous, starting with its CEO, William Li, a young entrepreneur who decided to bet everything on electric motorization and the identity of the brand, centered around high-end vehicles covered with the latest technologies.
Today, Nio offers a complete range of 100% electric SUVs and sedans and is recording strong growth with 15,000 vehicles sold per month. In 2022, the manufacturer has sold no less than 122,000 units.
And for two years now, the brand has decided to conquer the European market, first in Norway, then in Sweden, Germany, Denmark and the Netherlands. From now on, Nio aims to establish itself more on the Old Continent, and in particular in France by the end of 2023.
Also read: Nio responds to Tesla and its Superchargers with high-powered 500 kW terminals
A compact and two new brands for the French market
And to do this, Nio has a very specific plan: the launch of two new brands. For now, they respond to code names Alps and Firefly. With Firefly, the company would like to offer an electric compact, with a price of around €27,000. With this price, Nio could therefore rub shoulders with Renault’s new electric R5 at €25,000, the Volkswagen ID.2 or even the possible Tesla Model 2.
But that’s not all since Nio also plans to offer under its own banner a new compact electric car. According to the first rumors, it could be a break and shortened version of the Nio ET5.
“We have noticed that the need is there, we are already developing a vehicle that will come to the market in Europe and China, for our European users”, confirmed Willima Li in a recent interview.
A more cautious conquest of Europe
Unsurprisingly, this compact model, but also the future vehicles of the Firefly and Alps brands, will benefit from the battery exchange stations of Nio, its trademark. In April 2023, the manufacturer has passed the symbolic milestone of 20 million battery swaps. The 1327 stations installed in China record no less than 45,000 daily exchanges.
However, Nio does not want to put the cart before the horse and wishes to be more cautious in its conquest of the European market: “When we announced our launch in Norway, we were more optimistic than today. Since then, the world has changed and the macroeconomic and geopolitical environment in Europe is more difficult. Our ambition to be a major player in Europe but we will be more patient than expected”, declared William Li in the columns of Echoes.
