Tesla's Chinese Rival Nio Sparks Global Push As Firefly EVs Hit European Roads

Nio shares rose in premarket trading Friday after its Firefly compact EV brand began delivering its first units to customers in Europe, according to CnEV. The milestone marks the start of the brand’s overseas rollout and supports Nio’s multi-brand strategy to target global small EV markets. Norway’s first Firefly owner said the car’s compact size suits city driving and meets her safety expectations. The Firefly debuted during Nio Day on December 21, 2024, as the company’s rival to BMW’s Mini and Mercedes-Benz’s Smart. The first Firefly model launched in China on April 19 this year. NIO shares have gained over 16% in the past year and were up 2.25 premarket.