Chinese electric car maker Nio officially launched its third brand, Firefly, at NIO Day 2024 on Saturday.

At the same time, Firefly's first product made its global debut.

"Firefly's brand vision is to build the best small cars for global users," said William Li, chairman and CEO of Nio.

As Nio's intelligent electric high-end car brand, Firefly's brand logo is a glowing firefly in flight.

"The Firefly brand is positioned in Nio as the equivalent of the BMW Group's MINI brand," Li stated.

At the event, a pre-sale of the first Firefly model was opened, with a pre-sale price of 148,800 yuan for the Chinese market, which will officially hit the market in April 2025.

According to Li, "Firefly is more Smart than MINI and more MINI than Smart."

BMW Group's MINI and Mercedes-Benz's Smart are the leading players in the global small car market.

Previously Li had revealed that the Firefly brand would only have one product in the local market.

However, he said at the time, "Whether Firefly will have multiple cars in the global market is still under discussion."

With the release of the Firefly brand, Nio now has three brands under its umbrella: NIO, ONVO and FIREFLY.

Li said that the positioning of Nio's three brands is very clear: NIO focuses on the high-end market, targeting the business and family user segments; ONVO targets mainstream family market users; and FIREFLY positions itself as a boutique minivan to serve the needs of families for a second car.

According to Li's statement, prices of these three brand models are positioned at more than 300,000 yuan, more than 200,000 yuan, more than 100,000 yuan, respectively.