​Chinese electric car giant Nio is planning to launch a more affordable small car brand in Europe in 2025.

The Firefly marque will focus on cheaper compact cars intended to face off against the likes of the Volkswagen ID.2, Renault 5, Citroen e-C3 and BYD Dolphin when it arrives. 

Nio already sells in Norway, Germany, the Netherlands, Denmark and Sweden and is expected to launch in the UK by 2025 as part of its plans to have a presence in 25 territories by that date. Its current range of models include the large ET5 and ET7 saloons, the ET5 estate, and the EL6 and EL7 SUVs, all of which are aimed at BMW, Audi and Merecedes-Benz and cost from €50,000. 

Nio’s president and co-founder, Lihong Qin said the Firefly brand was “designed and developed for Europe” and singled out the Volkswagen ID.2 as an example of its predicted rivals. That car is due to cost less than £25,000 when it arrives in 2025, indicating that Nio intends for Firefly to compete in a very different segment from its parent brand.

Qin said that despite the intended price point, “Firefly is going to give us smaller cars but with advanced technology”. 

That could include the ability to swap the car’s battery in a matter of minutes, instead of waiting to recharge. Nio already has 30 battery-swap stations in Europe for its high-end models and is developing a next-generation system in partnership with Geely that will be able to swap out the smaller batteries set to be used in mainstream products and compatible with units from Geely.

It could also involve cars built on 800V architecture, which would allow ultra-rapid charging that is currently the preserve of larger and more expensive models. 

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Nio's current line up is large, premium-focused saloons and SUVs