NIO CEO Li Bin: Additional tariffs cannot hinder the competitiveness of 'Firefly” in Europe

News on June 21, comprehensive electrek, CnEVPost According to media reports, NIO CEO Li Bin showed his firm confidence in the company's new brand "Firefly" in his statement on Wednesday. Faced with the possible imposition of EU tariffs, Li Bin made it clear that NIO's third brand "Firefly" will still succeed in the European market even with increased trade costs.

Li Bin bluntly stated that the EU's approach is absolutely wrong: "The EU initially imposed a 10% tariff on Chinese electric vehicles, and now it imposes an additional 21%, raising the tax rate to 31%. This is absolutely wrong." He believes that this move Creating conflict upon conflict – because Europe is seen as “the global model for clean energy”.

It is understood that although the EU's tariff policy has not yet been finalized, Li Bin maintains high confidence in the competitiveness of the "Firefly" brand in the European market. He said that even under the adverse circumstances of increased tariffs, "Firefly" can still win the favor of consumers through its excellent cost performance and product strength. Of course, Li Bin also admitted that the increase in tariffs will inevitably have a certain impact on sales and profits.

When talking about NIO’s future global layout, Li Bin revealed that if NIO’s sales in Europe can reach about 100,000 vehicles per year, the company may consider establishing a local production base. He emphasized that this is an important step for NIO to become globalized.

Regarding the latest developments of the "Firefly" brand, Li Bin revealed at Weilai's first quarter earnings call that the brand's first product is expected to be delivered to consumers early in the first half of next year, but the specific release date has yet to be determined . He introduced that the "Firefly" brand is positioned as a high-quality small car with a price of 100,000 yuan, and plans to share the sales network with NIO, Weilai's main brand. This strategy is expected to further strengthen NIO’s influence in the European market.

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