Nio, founded on November 25, 2014, is starting multi-brand operations, having already launched the Onvo sub-brand and will launch the Firefly brand next month.
Nio (NYSE: NIO) is celebrating its 10th anniversary today, as the company is at a pivotal point in beginning its multi-brand operations.
“Today, Nio turns 10,” William Li, founder, chairman and CEO of the Chinese electric vehicle (EV) maker, wrote in a post published on the Nio App.
“Ten years ago today, Nio was founded at a point in history when the automotive industry was undergoing the most profound changes. We started with the mission of Blue Sky Coming and aspired to be a user enterprise with leading technology and experience,” Li wrote in Chinese.
“Today, we have gained the trust of over 620,000 users, with whom we have built a unique global user community,” he added, thanking all of them for their support.
Nio was incorporated in Shanghai on November 25, 2014, initially targeting the premium EV market, which has been challenging for local brands.
The company saw its 100,000th mass-produced vehicle roll off the production line on April 7, 2021, when Tesla CEO Elon Musk congratulated it, calling it a “tough milestone.”
On May 9 of this year, Nio saw its 500,000th production vehicle roll off the line, with the car being its first production model, the ES8, which was launched on December 16, 2017 at Nio Day 2017.
By the end of October, Nio Inc had delivered a total of 619,851 vehicles, according to data compiled by CnEVPost.
The company's current sales come mainly from the Nio main brand, with models on sale including the ES8, ES7, ES6, EC7, EC6, ET7, ET5, and ET5 Touring, the first five of which are SUVs, and the last three of which are sedans. It unveiled the ET9 in December 2023, and deliveries of the executive flagship sedan is set to begin in the first quarter of 2025.
The EV maker officially unveiled the Onvo brand on May 15, and the sub-brand's first model, the L60, was launched on September 19, and deliveries began on September 28.
Nio officially unveiled its third brand, Firefly, in a statement on November 20, saying that the first product will share the sub-brand's name.
The Firefly brand will be officially launched at Nio Day 2024 on December 21, with its first model to be delivered in the first half of 2025, the company said last week.
“There has been a great deal of interest in Nio's development and anxiety for us about not meeting expectations, and I am very grateful for the care and push,” Li said in his post today.
“Nio is not perfect yet, but we will do our best to get better and better and do our best to live up to your expectations,” he added.
To celebrate this moment, Nio announced a 10th anniversary package for the 2024 ES8, which customers who order the model between November 25 and February 28, 2025 will receive for free.
Here are some design details about the package that Nio shared on Weibo.
Deutsche Bank expects Nio brand to sell 223,000 cars in 2025, Onvo 219,000, Firefly 8,000
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