NIO plans to launch its third brand, Firefly, to enter the 100,000 yuan new energy vehicle market

NIO plans to launch its third brand, Firefly, in 2025, aiming to enter the 100,000-yuan new energy vehicle market. NIO founder Li Bin said that NIO's three brands will focus on the high-end market, the mass mainstream market, and the entry-level market, with price positioning of more than 300,000 yuan, more than 200,000 yuan, and more than 100,000 yuan respectively. The third brand Firefly, which was originally scheduled to be released in the second or third quarter of this year, has now been postponed to the second quarter of next year.