Listed here are my takeaways on the ET9, firefly (not a typo; the f is formally lowercase), crucial and controversial NIO Day, and its 2025 implications.
Each member of the press attending NIO Day 2024, held on the Haixinsha Asian Video games Park in Guangzhou on December 21, obtained a welcome card with the next message:
Welcome to NIO Day 2024!
NIO Day is an annual gathering day for NIO and its buddies, and a stage to showcase NIO’s revolutionary achievements to its customers.
This yr marks the tenth anniversary of NIO’s founding. With the theme of “Collectively & Additional,” this yr’s NIO Day will share with you the tales of our previous 10 years with customers, workers, companions, and trade innovators.
At this yr’s NIO Day, we may even share with you the achievements of NIO’s improvement up to now 10 years. The NIO ET9 will likely be formally launched, ushering in a brand new period of good electrical government flagship. Our new model firefly may even make its world debut, bringing a small, good, high-end electrical automotive to customers who’re assured and love life.
Thanks for being a part of our journey over the past 10 years. We hope you’ve got a pleasing NIO Day journey in Guangzhou!
It wasn’t simply some other NIO Day.
It was the largest (actually and figuratively), most necessary, consequential, and controversial NIO Day within the occasion’s historical past because it was first held seven years in the past in Beijing.
There was rather a lot on the plate, and rather a lot was at stake for NIO main as much as and after the occasion, extra so than some other time within the 10-year historical past of the Chinese language good EV startup now synonymous with battery swapping: 3,003 battery swap stations (as of January 3, 2025) have accomplished over 61 million battery swaps for NIO clients in China, and these numbers proceed to balloon by the day.
It was the largest ever by way of attendance: over 22,000 folks together with homeowners, media, provider representatives, trade ecosystem companions and buyers joined the occasion, virtually filling up the Park’s 24,000-people seating capability.
It was the largest by way of new merchandise and their worth hole: the costliest NIO, the ET9, was launched at a worth of 788,000 yuan with deliveries beginning in March 2025, whereas the least costly NIO, within the type of a sensible electrical high-end small hatch below the firefly model, NIO’s third model, was revealed and started accepting pre-orders at a pre-sale worth of 148,000 yuan earlier than official market launch in April 2025.
Relatively than only a one product reveal as is common at previous NIO Days, two fully totally different animals on two reverse ends of the product spectrum had been offered: a halo automotive and a technological tour de drive with among the most superior {hardware}/software program applied sciences focused at enterprise professionals, and a cool, funky, agile and quirky high-end small automotive for those who pursue freedom and love of life, no age limits.
Consider the 7 Sequence and the MINI, or the S-Class and the good, however just a few generations forward.
It was crucial because it got here on the heels of NIO’s 10-year anniversary lower than a month earlier, so it was an necessary event to have a good time the corporate’s achievements over the previous decade and the widening consumer neighborhood that has develop into to outline the NIO DNA.
Almost 1,200 NIO homeowners and creators took half within the making of NIO Day 2024. Greater than 170 charity market stalls had been arrange by NIO homeowners for the bazaar-like Consumer Charity Market, the place homeowners offered items to different homeowners and attendees with proceeds donated to the Guangzhou Charity Affiliation. A full-length “Journey Collectively” illustration scroll collectively created by artist Sua Balac and 14 NIO consumer designers artistically depicting the model’s decade-long journey with workers, customers, companions, and trade innovators was unveiled. A documentary quick movie titled “Collectively & Additional” depicting the story of practically 100 NIO homeowners rising along with NIO over the past 10 years was proven, and the NIO Band composed of a number of NIO homeowners carried out the inspirational theme tune “Collectively & Additional.” NIO Founder, Chairman and CEO William Li then took the stage and recapped NIO’s achievements and launched the ET9 and firefly model intimately earlier than legendary Hong Kong pop singer Hacken Lee capped off the evening with a reside efficiency of a number of of his hit songs. The Park and the well-known Canton Tower close by lit up in NIO Day themed colours.
It was additionally crucial because it had formally ushered within the period of NIO Group, a Chinese language good EV startup housing three manufacturers: the premium NIO model, the off-premium, pseudo mass market ONVO model and the boutique firefly model with good EV merchandise overlaying the 100,000–800,000 yuan worth vary.
It was essentially the most consequential as a result of the stage is now set for NIO to attempt to obtain two monumental duties with the three-brand arsenal: doubling gross sales in 2025 and reaching breakeven in 2026, two targets introduced by Li in the newest earnings name that many nonetheless assume are questionable given the present cutthroat market situations. The majority of the gross sales burden will fall on the ONVO and NIO manufacturers, with firefly contributing a small portion to the general supply quantity of greater than 440,000 items in 2025 (primarily based on 2024 supply numbers of 221,970 items introduced on January 1, 2025) towards the second half of the yr.
It was essentially the most controversial due to the design of the firefly particularly the “trio” headlights that instantly took over social media and have become the net meme of the evening for his or her shut resemblance to the Honda e headlights and the tri-camera design on the again of iPhones. To not point out the naming of the model itself with 4 letters that no EVs wish to be related to, in addition to stunts showcasing know-how prowess of the ET9 and the firefly whereas dunking on the Mercedes, MINI and good.
Oh, it was additionally the longest: your complete occasion took greater than 3.5 hours with Li spending a substantial period of time recapping the historic achievements of NIO and its customers and explaining in excruciating element (for nicely over an hour) technological highlights of the ET9, capped off with a comparatively quick and candy reveal of the firefly.
It was additionally essentially the most heartwarming: it was later revealed on social media that He Xiaopeng, founder, chairman, and CEO of Guangzhou-based good EV startup Xpeng, a serious NIO competitor, had personally delivered a bag of sticky rice balls (“Tang Yuan”, a kind of Chinese language dessert) to Li earlier than he took to the stage. December 21 marked the Begin of Winter on the Lunar calendar, and the customary factor to do for Chinese language folks in Southern China was to eat Tang Yuan. Li and He shared just a few laughs over Tang Yuan, and He even pumped Li up by saying NIO ought to attempt to focus on month-to-month deliveries of 5,000 ET9s.
And I used to be very fortunate to be in Guangzhou to witness these moments and extra as they transpired and bought to be up near Li and NIO President Qin Lihong the subsequent morning throughout a nose to nose with NIO media session.
It was my second time ever attending NIO Day in particular person, and by far essentially the most memorable. The primary was the very first NIO Day again in 2017. Again then, trade frenemies Li Auto Founder & CEO Li Xiang and Xiaomi Founder & CEO Lei Jun had been on stage to assist Li introduce the ES8, NIO’s first mannequin, as early buyers and first homeowners. There was no market and no NIO Band then, however the enthusiastic consumer neighborhood that outlined that first occasion has remained a continuing function, and Li remained as steadfast and decided as ever.
It was actually good to get a really feel of that consumer neighborhood enthusiasm and vibe by strolling across the market and seeing homeowners line up at virtually each stall to buy items from different homeowners. It was moderately infectious.
Protected to say, moreover the Beijing and Shanghai auto exhibits, NIO Day seems like the subsequent greatest trade occasion of the yr due to its distinctive format and trade affect. It’s an occasion that’s not like some other due to the anticipation going into it, and It could not be an overstatement to say everybody within the trade tuned in.
Should you ask me to summarize the ET9 and firefly in easy one-liners, I’d say, “there are government sedans, then there are ET9 sedans” for the ET9 and “smarter than good and extra mini than MINI” for the firefly, as Li would put it. “What causes would it’s a must to not purchase the ET9 in that phase?” I quipped on my WeChat moments.
The highlights that stood out for me was the video that was proven the place trade heavyweights like Dr. Herbert Diess, former CEO of Volkswagen Group and Dr. Yu Kai, founder & CEO of Horizon Robotics conversed with Li as they examined out the capabilities of the SkyRide Full Energetic Suspension, which NIO claims to be the world’s first built-in hydraulic totally energetic suspension with an energetic suspension electrical drive unit contained in the shock absorber, permitting the ET9 to adapt to an ultra-large vary of transient adjustment capabilities for stiffness, damping and top. Within the video, Dr. Diess was seen saying, “it’s unattainable” as he and Li efficiently carried out the 5-layer champagne glass stability take a look at for the ET9 over a set of velocity bumps, whereas Dr. Yu and Li had been additionally seen sitting within the entrance seats of the ET9 watching a film whereas the automotive shook violently, making a 5D expertise.
One other pre-recorded video confirmed Li donning the total racing uniform and helmet and personally doing a high-speed tire blowout take a look at at speeds of 150 km/h and 160 km/h to showcase the steadiness of the ET9 due to the SkyRide Steer-by-Wire and digital chassis.
The drone present for the firefly model simply earlier than its reveal was cool and a pleasant strategy to convey the viewers into the model spirit of “freedom to glow” and DNA of “vivid, considerate and stable” which respectively signify the model’s styling, area idea and security attributes. The side-by-side comparability of the ET9 and the Mercedes S-Class Maybach going by way of velocity bumps concurrently with ET9 remaining eerily steady however the Maybach shaking violently drew laughs and made a few of my PR buddies over at Mercedes cringe. One other video exhibiting a firefly outsmarting a MINI and good in a head-to-head competitors traversing a closed circuit proved the model’s versatility.
The SkyRide Full Energetic Suspension, Steer-by-Wire and Rear-Wheel-Steering make the ET9 the world’s first mannequin to combine all three applied sciences on the identical time. Curiously sufficient, the energetic suspension know-how has particular that means for me: I’ve recognized the founders of Boston-based ClearMotion, which provides the know-how to NIO, since 2016 and had already skilled the know-how’s experience consolation and bump damping capabilities then. So, it was very nice to see their work lastly discover their means onto a manufacturing automobile in any case these years, a NIO no much less. The ET9 additionally has the excellence of being the primary automotive mannequin in China to acquire the Ministry of Trade and Data Know-how (MIIT)’s steer-by-wire mass manufacturing certification, a know-how essential for extra superior good automobiles and higher-levels of autonomous driving features. All due to German provider and steering specialist ZF, an organization I’ve adopted intently over the past 10 years.
And seeing Li up on stage for 3 and a half hours tirelessly speaking concerning the previous, current and way forward for NIO, the ET9 and firefly confirmed that this can be a man with unwavering willpower to make NIO a pioneering, distinguished and related participant, and maybe one of many remaining ones standing, within the international good EV area.
The subsequent morning, Li took a wide range of questions from a dozen or so international media, together with myself, for about an hour. Matters ranged from the ET9, firefly design controversy, battery swapping rollout, partnerships, and standardization, ONVO L60 manufacturing ramp, export ways and ideas amid geopolitical uncertainty, and trade outlook. Under are highlights of his responses:
firefly design controversy, pricing and European prospects: it’s inside our expectations and higher that now we have this debate, it’s tough to have a design and styling that pleases everybody, our objective was to have a design that tries to convey all three model DNA attributes of vivid, considerate and stable on the identical time, it’s totally different however we hope it’s logical for the worldwide viewers; BaaS pricing for the firefly will likely be under 100,000 yuan; international debut of firefly would have been in Europe and prospects there would have been higher had there not been EU tariffs, however nonetheless loads of alternatives and assured of firefly’s competitiveness to deal with a market of about 4 million automobiles within the A and B segments; European launch within the first half of 2025;
ONVO L60 manufacturing ramp and buyer habits: ramp towards a month-to-month supply run charge of 20,000 items by March has been inside expectations, barely sooner than regular whereas guaranteeing high quality; three battery suppliers — BYD, CATL and CALB — collectively are supplying 60-kWh and 85-kWh batteries as of December, no bottlenecks anticipated on the battery provide aspect; Tesla homeowners have been the №1 supply of consumers, solely about 2% of ONVO consumers beforehand thought of a NIO, inside expectations. ONVO gross sales crew is incentivized to convey potential results in NIO;
Lengthy-term European and international market entry precept for firefly and broader NIO Group: one model, one nation, one companion collaboration format for all three manufacturers worldwide; the U.S. market is a extremely worthwhile market even when merchandise deal with a distinct segment phase however however a more durable market to crack into because of more durable authorized and regulatory necessities, tariffs and geopolitical uncertainty, preparations have all the time been ongoing however absolute prime precedence is to concentrate on the Chinese language home market the place it’s the world’s greatest and best market; in case you don’t come out of the cutthroat competitors at house a winner, you can not develop into a real international firm; over the subsequent three years China stay our prime precedence whereas preparations will proceed to increase to further international markets; European manufacturing will likely be an inexpensive enterprise determination and a matter of scale however solely is sensible if NIO Group gross sales there prime 100,000 items;
Battery swap standardization, partnership and abroad growth: long-term there will likely be standardized battery pack sizes for energy swap relying on worth and segmentation, for NIO there will likely be three: name it #1 for NIO, #3 for ONVO and #5 for firefly; discussions have been ongoing with CATL about cooperating on normal battery packs, there are many sources to be shared and alternatives for cooperation the place NIO and CATL might every be liable for working sure networks appropriate to the identical battery pack normal; European rollout of battery swapping station community slower primarily because of slower tempo of development, however roll out of swap stations for firefly will likely be a lot sooner at solely a 3rd of the price of NIO swap stations because of easier format and decrease development prices; NIO battery swap companions will primarily benchmark on the ONVO battery pack normal and observe a four-step course of: first, framework settlement; second, product know-how roadmap integrating battery swapping; third, automobile improvement; fourth, market launch and operation, akin to cloud service the place it begins as an inside service first, matures internally for a number of years earlier than opening service to exterior clients, due to this fact, it takes time;
Enterprise technique precept: sticking to imaginative and prescient of changing into a world firm servicing extra clients and finest buyer expertise by way of battery swapping, however by way of motion must adapt sooner to altering exterior setting with low latency just like the ET 9;
Significance of Shenji NX9031 5nm good driving chip: a matter of enterprise determination as a result of it improves gross margin, system efficiency and mitigates provide chain danger, at present 4 NVIDIA Orin-X chips per automobile for 200,000 NIO automobiles incur an enormous value;
One factor to have finished otherwise: extra aggressive with battery swap station community growth, as a substitute of getting stations up and operating in many of the counties in China by the top of subsequent yr, would have been higher if this objective was achieved two years earlier;
2025 key phrase for the trade and NIO: reshuffling of the trade panorama and leap ahead for NIO.
NIO Day 2024 is within the rearview mirror, NIO has made a number of additions, and 2024 ended with a bang as December deliveries reached 31,138 items, the primary time ever within the historical past of NIO that month-to-month deliveries had topped 30,000 items.
Will 2025 be the identical? Regardless, will probably be essentially the most essential yr for NIO because the trade strikes to what Li calls the ultimate levels of qualification over the subsequent two years. How NIO performs in 2025 may simply determine whether or not it turns into one of many remaining qualifiers.
Lei Xing is a former editor-in-chief of China Auto Assessment and co-host of the China EVs & Extra podcast; you possibly can observe him on Twitter or Medium.
