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Chinese NIO said on Tuesday that it would launch its firefly in Europe in the third quarter, later compared to the forecast, after reducing the challenges involved in sales and service networks expansion in the region.
The company unveiled the firefly brand as a rival product of Smart and BMW of Mercedes-Benz in December and said it would launch it in Europe at the first half of this year.
NIO CEO William Lee told reporters at an event before the Shanghai auto show, NIO’s progress in Europe has been slow due to sales and service network challenges.
He said that NIO plans to find more local partners to expand in Europe and would announce some deals with European partners during the show.
It has also developed a right-hand drive version of the firefly, the first of which will be ready to enter the market by October, the NIO President Qin Lihong said.
He said that Nio is actively searching for expansion plans with local partners in the right -handed drive markets including Southeast Asia and United Kingdom.
He said that Nio would sign a contract to sell cars in Singapore this week and eventually expects to sell firefly brands in 20 countries and regions outside China.
The company originally imagined Jugnu as a brand that would promote its market share in Europe, but in October the European Commission put tariffs on Chinese -made EVs sold in the European Union.
