NIO is working on a third sub-brand that will produce affordable EVs for the Chinese market.
This at least reporting coming from 36 Kyrpton.
NIO has not named the brand yet, but it is known as Project Firefly.
The new brand will produce vehicles that cost between $15,000 and $30,000.
Like their other sub-brand, ALPS, Project Firefly will have its own research and development teams and operate independently from NIO.
However, we do not know anything else about the brand.
This includes details about when the brand will officially launch or when the first models could start to hit the market.
NIO’s second brand, ALPS, is developing its own affordable EVs with pricing between $22,000 and $44,000.
The brand will deliver its first EV in mid-2024.
NIO has been very busy, and according to reports from an inside source on Weibo, NIO is working on a smartphone as well.
The idea is to develop a smartphone that seamlessly pairs with NIOs infotainment systems and shares the same colour palette.
The device will cost less than an iPhone, and NIO will release a single flagship model each year.
At least to say, NIO is staying busy, and with two sub-brands, a phone and a strong July for production of their main brand, NIO is not slowing down.