NIO plans to launch a new small electric car, codenamed "Firefly"

Li Bin, founder, chairman and CEO of NIO, recently revealed at a "power-up" event in Wuhan that the company will launch a new electric car, code-named "Firefly". The car will be smaller than Mercedes-Benz's Smart brand cars and equipped with an intelligent driving system, which is expected to outperform the relevant systems of competitors such as Mini Cooper. The "Firefly" series will debut at NIO's annual press conference "NIO Day" next Saturday, and will go on sale simultaneously in China and overseas markets including Europe next year. Li Bin expects that the monthly delivery volume of this niche product will reach "at least thousands" next year and maintain a "reasonable" profit margin.