AN ultra-ambitious car maker is set to release a new budget EV that some claim could rival Tesla.
Little-known Chinese manufacturer Nio is to release a sub-brand called Firefly – which will offer entry-level electric vehicles.
Spy shots have revealed the brand testing a small city-style hatchback, which is tipped to be showcased to the world on December 21 for their so-called Nio Day in Guangzhou, China.
Known for their advanced technology and innovative features, Nio is a relatively new EV startup – established in 2014 and adopting its current name in 2016.
Their first mass-produced car was the ES8, an all-electric SUV, which began sales in June 2018.
Nio also has a family-oriented brand called Onvo, with Onvo L60 the only model currently available for sale under that name.
The new Firefly marque will sit at the bottom of their tier of brands and will focus on small and mid-size EVs.
Automotive outlet CarScoops first revealed the motor back in March, and new photos they obtained revealed it will look like a typical hatchback in size with a short front and rear overhang – resembling the five-door Mini Cooper and BYD Dolphin.
Photos of the Firefly’s interior have also been published by IT Home and CarNewsChina.
Judging by these, it appears it will feature a large central infotainment screen along with a digital instrument cluster – all despite its budget-orientated appeal.
Little else is known about the new hatchback, and it will initially be launched in China before it comes to Europe – although tariff hikes will likely make it pricier than originally planned.
The release of the Firefly could certainly give Tesla something to think about in the future.
The American car giant, owned by billionaire Elon Musk, has previously indicated they will look to bring an entry-level car to market for less than £21,500 ($25,000).
However, plans for the highly-anticipated EV – that was set to be called the Tesla Model 2 – have reportedly been axed, as the firm’s focus moves to autonomous vehicles and the upcoming Robotaxi.
This comes as another Chinese car brand is set to launch its own incredibly cheap EV – with seats that convert into beds.
Dongfeng, one of the largest car makers in China, has arrived in Europe with the Nammi Box budget EV.
The Chinese state-owned company’s new EV is set to rival the Citroen e-C3, currently one of the cheapest in the European market costing £21,035.
Dongfeng has already launched its car in Switzerland for just £19,615.
However, German giants Volkswagen revealed in August that they will push back the release of their entry-level EV by six years.
This means drivers will be forced to wait for the launch of their reportedly £17k-priced electric motor.
They had planned to launch a new ID.4 SUV model from its next-generation Trinity platform, but the manufacturer group’s CEO has delayed the plans due to “software issues”.
According to the Handelsblatt newspaper, VW will now launch its Trinity Project in 2032, having already delayed it until 2028 after an original start date of 2026.
