Firefly, Chinese premium EV maker NIO’s sub-brand, launches its own ‘BaaS’ offer in China, allowing customers to buy an EV and rent the battery instead of purchasing it. This ‘Battery-as-a-Service’, already offered by NIO and its other brand, Onvo, reduces the initial purchase price by more than 30%.
The starting price of its – for the time being – sole model, the Firefly EV, is 79,800 yuan (approximately €9,580), a decrease of 40,000 yuan (approximately €4,800) or 33.39 percent. The higher-priced variant goes from 125,800 to 85,800 yuan (€15,110 to €10,305). The monthly rental price for the battery will be 399 yuan, equivalent to 48 euros.
No worries, no depreciation
The significant advantage of the system, besides its lower initial purchase price, is that users don’t have to worry about the warranty on their batteries, as they remain the property of the battery rental company. Additionally, they are ‘swappable’ at any time. They also do not need to worry about economic losses caused by battery depreciation, Firefly says.
NIO’s founder and CEO, William Li, stated in an earlier interview that the Firefly brand, which was first launched in China in April of this year, will serve as an entry point in 16 new markets. In addition to the Netherlands, it will launch in Norway, Denmark, Portugal, Belgium, Luxembourg, Austria, and Poland in Europe, as well as Costa Rica, Nepal, Singapore, Uruguay, Colombia, and New Zealand.
It started a 15-day European road test that will cover over 5,500 kilometers to prepare for market entry in seven countries: Germany, Denmark, the Netherlands, France, Spain, Italy, and Austria. Belgium is to follow later.
Li suggested that existing direct sales channels, such as those in the Netherlands, will likely be maintained for the expansion of the Firefly brand into 16 new markets in 2025. However, for the new markets, the focus will be on third-party dealers and partners.
“As Firefly flies around the world, we will try a more efficient and flexible hybrid channel, seek partners in local markets, and use their existing resources,” Li said, according to CarNewsChina.
Targeting MINI and Smart public
Firefly is NIO’s boutique sub-brand, designed to cater to the tastes of modern urbanites—those who seek a compact car that’s smart, stylish, and distinctly premium, with a youthful twist and a city-friendly footprint.
It was created in Munich, under the supervision of Nio’s Design Vice President Kris Tomasson, formerly of BMW and Ford. The new Firefly brand targets a new, younger public with more aggressive pricing.
William Li makes no secret of his intention to position this brand like BMW’s MINI and expects it to bring in 10% of all sales in the group. Not without wit, the CEO said that the Firefly was to be “Smarter than Mini and more Mini than Smart.”
With a sub-30,000 euro price tag, it will be a tough competitor for these. Adding the possibility of renting the battery without the worries could give it an even more difficult gap to bridge for the competition.
