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NIO Inc. NIO introduced its second sub-brand and third overall BEV brand, Firefly, at NIO Day 2024, coinciding with the presale launch of the Firefly flagship model, which shares the same name. This premium boutique small car debuts in China at RMB 148,800, which is equivalent to the discounted price of the electric Mini Cooper.
Firefly competes with BMW’s MINI and Mercedes-Benz’s Smart. Per William Li, founder of NIO, Firefly offers a compact size compared with a Smart car and is smarter than a MINI. Like other NIO models, the Firefly supports battery swaps, suggesting a potential battery-as-a-service (BaaS) rental option upon official release.
Since its first announcement, Firefly was envisioned as an affordable global EV line, including its expansion to Europe. Sales in China are set to start in April 2025, followed by a European launch in the first half of the same year, with local partners handling distribution.
NIO also introduced the new ET9 sedan, which has already generated significant interest. Priced at RMB 788,000 for the standard trim with a battery, the ET9 undercuts its previously announced presale price of RMB 800,000. A BaaS version will be available at RMB 660,000, with a monthly battery rental fee of RMB 1,128. NIO also introduced a limited launch edition trim of ET9 priced at RMB 818,000 and capped it at 999 units. Per CnEVPost, all the units sold out in China within 24 hours, surpassing expectations.
The ET9 super plush Standard trim offers a four-seat sedan layout with dimensions of 5,325 mm in length, 2,017 mm in width and 1,621 mm in height as well as a 3,250 mm wheelbase. It features NIO’s proprietary Shenji NX9031 autonomous driving chip, equivalent to four mainstream smart driving chips and is equipped with two such units. The ET9’s dual electric motors produce a combined 520 kW of power and 700 Nm of torque, enabling acceleration from 0 to 100 km/h in 4.3 seconds. It also offers a 105-liter frunk capacity. The first deliveries of the ET9 in China are scheduled for March 2025, beginning with the already sold-out limited edition. NIO has not yet provided a timeline for when sales and deliveries will commence in Europe.
NIO’s Zacks Rank & Key Picks
NIO currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the auto space are Dorman Products, Inc. DORM, Geely Automobile Holdings Limited GELYY and Blue Bird Corporation BLBD, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DORM’s 2024 sales and earnings suggests year-over-year growth of 3.66% and 51.98%, respectively. EPS estimates for 2024 and 2025 have improved 75 cents and 88 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for GELYY’s 2024 sales and earnings suggests year-over-year growth of 51.88% and 216.67%, respectively. EPS estimates for 2024 and have improved by a penny and 12 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for BLBD’s fiscal 2025 sales and earnings suggests year-over-year growth of 10.97% and 12.14%, respectively. EPS estimates for fiscal 2025 have improved 18 cents in the past 30 days.