Chinese EV maker Nio unveils Firefly branded cars to take on Mini Cooper and Smart

William Li, the co-founder and CEO of the Shanghai-based carmaker, told the Nio Day event in Guangzhou on Saturday that the smaller and cheaper model, which incorporates the latest EV technologies, would be affordable to more customers around the world.

“We think it is our corporate responsibility to chase a sustainable and better future,” he told 22,000 Nio owners attending the event. “Nio will build best electric cars for global customers.”

The first Firefly small car model is priced at 148,000 yuan (US$20,284) and deliveries will begin in April, he said.

The car will be supported by Nio’s battery swap technology, which allows users to exchange a spent battery pack for a fully charged one in less than three minutes. It is also capable of self-parking. Details on the car’s driving range and digital cockpit were not revealed.

Li said Firefly cars are smarter than Mini’s and when compared with other cars that have intelligent features, they are more stylish.

In a report last month, Deutsche Bank said total deliveries of the new model would reach 8,000 units in 2025.