Nio will launch its third brand, codenamed Firefly, on December 21 at Nio Day 2024, and the sub-brand's models will be displayed and sold in Nio's showrooms.

Nio's (NYSE: NIO) third brand, internally codenamed Firefly, will be officially launched in about two months, after the second brand, Onvo, begins delivering its first models.

Qin Lihong, co-founder and president of the Chinese electric vehicle (EV) maker, announced at Nio's partner conference that the Firefly sub-brand will be launched at the Nio Day 2024 event in Guangzhou on December 21, according to a report today by local automotive media outlet Xchuxing.

Firefly's models will be displayed and sold at Nio's showrooms and will share the services and battery swap system of Nio's main brand, according to the report.

Several auto bloggers shared the same information on Weibo.

Nio Day is Nio's biggest event each year and usually sees the launch of the company's latest products and technologies.

On October 4, Nio launched Nio MENA with its Middle East backer, Abu Dhabi-based CYVN Holdings, in the presence of the UAE President as well as the Egyptian President.

Nio founder, chairman, and CEO William Li said at the time that the two presidents experienced the Nio ES8, the Onvo L60, and a new model that has yet to be released.

It's unclear if that new model is from Nio's main brand or its sub-brands.

Onvo, Nio's second brand under the internal codename Alps, officially launched its first model, the L60, on September 19, with a starting price of RMB 206,900 ($29,240), including the battery.

Deliveries of the Onvo L60 began on September 28, with 832 units delivered in September, according to figures released by Nio on October 1.

Including the 20,349 vehicles from Nio's main brand, Nio as a group delivered 21,181 vehicles in September, the second highest ever.

Nio management had previously mentioned that the Firefly would target the market with prices in the range of RMB 100,000 to RMB 200,000.

On March 14, Li said in his first live broadcast on short-video platform Douyin that Firefly is to Nio what Mini is to BMW.

Although the Firefly brand focuses on small cars, it will be based on five-star European safety standards and support battery swap, he said.

In an interview with local media in early May, Qin said the Firefly product was ready, but the launch of the new brand will be delayed until the second quarter of 2025, given the overall brand sequence.

($1 = RMB 7.0768)

Spy shots reveal interior of Nio Firefly's debut model