Nio is currently working on two sub-brands, codenamed 'Alps' and 'Firefly' for Europe car auto cars
. Nio will then venture into an even more affordable market for EVs through the Project Firefly brand, aiming to sell vehicles priced between just 100,000 yuan and 200,000 yuan . It was reported last year that the Project Firefly brand will operate independently from Nio and have its own research and development teams.
“Yes, in terms of price that means we are also attacking Volkswagen more strongly than before,” William Li noted in his interview. The Project Firefly brand will operate an all-new factory to be established in Chuzhou city in China’s Anhui province, joining the two factories that Nio already operates in nearby Hefei city,
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