Nio will soon deploy hybrid EVs to regions outside China
According to two informants familiar with the matter, Nio will reveal the model during its annual event on 21 December. The first units could be handed over to customers as early as 2027.
Though this plan has not been made public, reports from Reuters reveal that Abu Dhabi investment vehicle CYVN Holdings came up with the idea to develop the hybrid model under the Firefly brand, citing that it “could boost sales in Middle Eastern markets.” According to reports, Nio has no plans to sell the product in the Chinese EV market.
It would be a change in strategy for Nio, as the company has so far only offered purely battery-electric vehicles and had emphasised in the not-too-distant past that it would rely on the company’s own battery swap system for long distances with electric cars – and not on combustion engines as range extenders. Manufacturers such as Li Auto, which specialises in EREVs, have recently recorded significant growth in China.
But again, Nio does not plan to sell the EREV in China at all and launch it under its Firefly brand.
Reuters speculates that the change of heart could have something to do with the newly established EU tariffs on electric cars built in China. Nio has to pay 20 per cent in tariffs (on top of the 10 per cent import duty) when shipping its electric cars to the old continent. However, hybrid models are exempt from the former. Thus, the carmaker would not have to hike up the price of the Firefly model to make a profit.
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