Nio wants Firefly to be a global brand selling cars in Europe and the Americas but not in the U.S. for now. The first Firefly EV has Honda e design cues and promises to be maneuverable and roomy inside.

Nio unveiled a lower-cost brand named Firefly on Saturday that it touted as a rival to Mercedes' Smart and BMW's Mini in the Chinese electric vehicle maker's latest bid to broaden its customer base and boost sales.

Chinese automaker reveals new Firefly brand of premium electric compact cars, set to launch in China and Europe in the first half of 2025, with a starting price just north of the $20,000 mark.

Despite being Nio's entry-level brand, the Firefly EV features a focus on safety, as well as dynamics and technology. Nio is saving most of the details until closer to the market launch but confirmed features like a tight 15.4-foot turning circle and automated parking technology.

China's Nio on Sunday said it would launch its new Firefly electric vehicle brand in Europe early in the first half of 2025, betting that it would help the company overcome European Union tariffs.

NIO introduces its second sub-brand and third overall BEV brand, Firefly, and launches the new ET9 sedan at RMB 788,000.