Nio aims to create two other brands in its portfolio to provide more cheap options to the market than its primary brand. It’s an approach that’s worked well in the mobile sector, so why not with EVs, which are more like electronics than any previous automobile before them? The clear advantage here is that the main Nio brand retains its ‘luxury’ status in the eyes of potential customers.
The codenames for the two new brands are Alps and Firefly (which may or may not be the final commercial names). Alps is claimed to be aiming for the family car market, with costs ranging from CNY 200,000 (€26,200) to CNY 300,000 (€39,200), putting it slightly below Nio. According to a fresh Chinese source, the first Alps model would be an SUV.
Following the brand’s official presentation before the end of March, this should hit the market and begin deliveries somewhere in the second part of this year. The development of this EV appears to be proceeding apace, with the first test vehicle created in August of last year.
Firefly, on the other hand, which will be offered in Europe next year, will target the Chinese market around CNY 200,000 (€26,200). According to Nio president Qin Lihong, Firefly would first provide a smaller car with dimensions similar to the Mini.
Interestingly, Nio will not introduce any new models this year, instead focusing on sales of its current lineup.