Nio wants to attack Europe's car market with new brands
In just over a year, the electric car newcomer Nio has launched five model series in Germany. However, the expansion course is far from over. So far, sales have been rather sluggish.
Electric car newcomer Nio wants to continue expanding in Europe despite a bumpy start. The brand, which has been represented in Germany since the end of 2022, has been unable to achieve its sales targets and turnover. Lihong Qin, co-founder and President of the Chinese electric car manufacturer, nevertheless wants to stick to the euro expansion course. This includes plans for two new brands, new models and the expansion of battery exchange stations.
Nio is currently making losses, as Qin admits. However, his company is not in a financially threatening situation. As a start-up, the company is still looking for cooperation partners. In the long term, however, Nio should remain strategically independent.
Focus on five markets in Europe
On the product side, the Chinese want to step on the gas. In 2024, the focus in Europe will continue to be on the five markets of Germany, the Netherlands, Norway, Denmark and Sweden, as well as on the premium brand Nio, which is positioned against BMW, Mercedes and Audi. Next year, the aim is to improve the offering for customers with new products and services as well as the expansion of aftersales points.
In addition, the car manufacturer intends to attack the European market with two brands aimed at the mass market. Firefly, a spin-off for affordable entry-level models, will be launched in spring 2025. According to Qin, Firefly is clearly positioned against VW in the B-segment and therefore against the upcoming ID.2. Nio is likely to target a price of less than 25,000 euros when entering the Firefly world. Nio has developed a corresponding new e-platform and smaller battery formats that are also suitable for battery swapping. New, faster-operating fourth-generation battery swap stations are already being prepared.
More battery exchange stations
In Germany, there are currently 8 Nio exchange stations, all of which are located near highways. This number is set to rise to 20 stations next year. Qin is also holding out the prospect of exchange stations in urban areas, but without specifying a date for this. Nio already has 2,300 exchange stations in operation in China.
The Alps brand, which will be launched in 2024 and positioned directly against Tesla between Firefly and Nio, also has its sights set on the mass market. There will be up to three Alps models, which will be affordable, efficient and family-friendly. Alps will also be launched in Europe in 2025.
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Following its success in Germany, Chinese car manufacturer Nio aims to introduce its new brands into the Automotive market in Europe. These new brands, including Firefly and Alps, are targeting the mass market and will compete with established European brands like VW and Tesla. On the other hand, Nio's flagship brand continues to focus on the premium segment, aiming to challenge BMW, Mercedes, and Audi. The company is also expanding its battery exchange stations in Germany and Europe to support its vehicle sales and battery swap services.
Source: www.ntv.de
