NIO CEO Li Bin： Full of confidence in the European competitiveness of ＂Firefly＂

2024-06-21 10:22:52 Author: Yao Liwei

In a recent interview, NIO CEO Li Bin said he was confident that the company’s new brand, Firefly, would be competitive in the European market. Despite the controversy over the European Union’s tariffs on electric vehicles in China, Li Bin believes it is absolutely "absolutely wrong". He believes that in Europe, as a "global model of clean energy", it originally intended to impose a 10% tariff on the electric vehicle industry, and then increased it by 21%, resulting in a total tax rate of 31%.

Although a final decision by the European Union has yet to be decided, Mr. Li is confident that Firefly electric cars will remain competitive in the European market even with the additional tariffs. However, he also acknowledges that this will have an impact on sales and profits.

Regarding the production layout in Europe, Li Bin mentioned that if NIO’s sales in Europe reach about 100,000 vehicles, the company may consider setting up a local factory to produce electric vehicles to strengthen its globalization strategy.

In addition, it was revealed at NIO’s first-quarter earnings call that the first product of "Firefly" is scheduled to be officially delivered in the first half of next year. Although the release time has not yet been determined, according to previous news, the brand is positioned in the boutique car market and plans to share the sales network with the NIO brand.