Nio files documentation for debut of Firefly's initial model, key details disclosed
In a significant move for the electric vehicle (EV) industry, Sunwoda Electric Vehicle Battery Co Ltd (Sunwoda EVB) has announced a capital increase plan in 2022, with the participation of Next Capital, a venture capital fund linked with William Li, the founder, chairman, and CEO of Nio.
Next Capital, an early-stage investment fund founded in 2017, focuses on technology-driven business innovation, with a broad portfolio in sectors such as artificial intelligence, biotech, and robotics. Although the direct link to William Li is not explicitly stated, Next Capital is recognised as a prominent Chinese venture capital firm involved in innovative tech investments and is known to support visionary founders and technology enterprises that align with William Li’s entrepreneurial ecosystem.
Meanwhile, Nio, the EV company Li leads, has made headlines with its plans to launch Firefly's first model in Europe in the first half of 2025, as announced by Li himself. The Firefly model, powered by a single electric motor from Nio's electric motor division with a peak power of 105 kW, is set to challenge BMW Mini and Mercedes-Benz's Smart in the global market, having been officially launched by Nio at Nio Day 2024.
Interestingly, Sunwoda, a battery maker that started as a cell phone battery maker, has become a supplier for the Firefly model, marking the first time the battery maker has been a supplier to Nio. The Firefly model is powered by lithium iron phosphate (LFP) batteries from Sunwoda.
The Firefly model, with the model number NAL7000BSEVY1, went on pre-sales in China on December 21, 2022, at a price of RMB 148,800 yuan ($20,300), and is set to be officially launched in April 2023. Manufactured at No. 299 Baita Road, Economic and Technological Development Zone, Hefei city, Anhui province, where Nio's F2 plant is located, the Firefly model weighs 1,492 kilograms and has a top speed of 150 kilometers per hour. It measures 4,003 mm in length, 1,781 mm in width, and 1,557 mm in height, with a wheelbase of 2,615 mm, making it an all-electric vehicle that supports battery swap.
Recently, China's Ministry of Industry and Information Technology (MIIT) released its latest catalog of models that will be allowed to be sold for public comment, and Firefly's first model is included. The public can submit feedback between January 11-17, and entry into the catalog is the last major regulatory process by which a model can be allowed to be sold in China. The Firefly model has only one page in the catalog.
As the electric vehicle industry continues to grow and evolve, partnerships like the one between Sunwoda and Nio's Firefly sub-brand promise to bring innovative and competitive EV solutions to the market.
[1] Source: Venture Capital Database (VCDB) and Crunchbase.
- Next Capital, a Chinese venture capital firm known for investing in technology-driven businesses, has entered the electric vehicle industry by participating in Sunwoda Electric Vehicle Battery Co Ltd's capital increase plan.
- Sunwoda EVB, a battery maker that initially produced cell phone batteries, is now supplying batteries for Nio's Firefly model, marking its first collaboration with the EV company.
- Nio, an electric vehicle company led by William Li, has plans to launch Firefly's first model in Europe in the first half of 2025, powered by a single electric motor from Nio's electric motor division.
- The Firefly model, with a peak power of 105 kW, is expected to challenge BMW Mini and Mercedes-Benz's Smart in the global market.
- The Firefly model, using LFP batteries from Sunwoda, went on pre-sales in China on December 21, 2022, and is scheduled to officially launch in April 2023.
- The Firefly model, manufactured at Nio's F2 plant in Hefei city, Anhui province, is an all-electric vehicle that supports battery swap and weighs 1,492 kilograms, with a top speed of 150 kilometers per hour.
- China's Ministry of Industry and Information Technology has included Firefly's first model in their catalog of models that can be sold for public comment, with the public having until January 17 to submit feedback.
- The partnership between Sunwoda and Nio's Firefly sub-brand is a significant move that promises to bring innovative and competitive electric vehicle solutions to the market as the industry continues to grow and evolve.
