Code name "Firefly": Nio plans a volume brand

The Chinese car manufacturer Nio is planning to launch a volume brand in Germany. The project is being run under the internal name "Firefly" (Glowworm), says the new Managing Director for Germany, Marius Hayler. This is to be an entry-level electric model that is to be sold at a price significantly below the current Nio models. The aim is to boost the company's sales, which have been disappointing to date.

The first model will be offered in the B segment, said Marius Hayler. Others could follow the small car. Nio also wants to break new ground in sales with Firefly and work together with car dealers. The manufacturer currently only sells its vehicles directly via the Internet. Like the larger models, the "Firefly" could also have an exchangeable battery and thus access to Nio's power swap stations. (aum)