NIO is ready for a new European offensive. More than NIO should be the protagonist of this action in the Old Continent Firefly, a sub-brand of the Chinese giant which, like the other sub-brand Alps, deals with the production of models for families, but unlike the latter, focuses on small ones. This was announced by the president of NIO, Lihong Qin, adding that the Firefly landing in Europe will happen in 2025.
Chinese wave
The announcement, underlines Reuters, came while on the one hand we are witnessing a real one wave of Chinese brands and more generally Asians who are going to conquer Europe and on the other hand the European Union is investigating Chinese imports of electric vehicles to see if they violate competition rules. After the price war started by Tesla in China, NIO had to deal with some losses, but it never gave up on its future ideas of European expansion, and Firefly's potential landing in the Old Continent within the next two years is an indication of this. a testimony.
Cost reduction strategy
The launch of the two sub-brands Alps and Firefly it is not the only strategic move that has characterized NIO's recent activity: the Chinese giant, to combat the economic losses mentioned above, has in fact decided to fire 10% of its employees, is evaluating the possibility of pushing off some of its units – most notably the battery manufacturing business – and has formed partnerships to help fund initiatives such as the Battery Swapping in an attempt to reduce costs.
Partnership in place
Staying on the subject of partnerships, Qin himself made it known that those were signed in November with his compatriots Geely And Changan Automobile state-owned will result in the joint development of a new battery pack as well as a chassis architecture to be used as a model for future partners. And that's not all: there is also a third collaboration at stake, the agreement for which has already been signed but on which the president of NIO preferred not to comment given that “It is too early to reveal details.”
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