According to two informants familiar with the matter, Nio will reveal the model during its annual event on 21 December. But again, Nio does not plan to sell the EREV in China at all and launch it under its Firefly brand. Reuters speculates that the change of heart could have something to do with the newly established EU tariffs on electric cars built in China. Nio has to pay 20 per cent in tariffs (on top of the 10 per cent import duty) when shipping its electric cars to the old continent. Thus, the carmaker would not have to hike up the price of the Firefly model to make a profit.

Source: The North Africa Journal November 04, 2024 21:01 UTC