Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Adobe Strengthens AI Strategy Ahead of Q4 Earnings, Says Stifel 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
China Adds Domestic AI Chips to Government Procurement List as U.S. Considers Easing Nvidia Export Curbs 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Australia’s Under-16 Social Media Ban Sparks Global Debate and Early Challenges 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Microsoft Unveils Massive Global AI Investments, Prioritizing India’s Rapidly Growing Digital Market 
SoftBank Shares Slide as Oracle’s AI Spending Plans Fuel Market Jitters 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
China's Nio is preparing to launch its Firefly EV in Europe by early 2025, aiming to rival Mini and Smart. As the company expands its presence, it’s also addressing tariff challenges with innovative battery-swapping stations and strategic partnerships.
Nio’s Firefly EV Set to Debut in Europe in 2025
On Sunday, Chinese automaker Nio announced plans to introduce its Firefly brand of electric vehicles to the European market in the first half of 2025, a move the company hopes will help it circumvent tariffs imposed by the EU, Investing.com reports.
When asked about the sale and service of the Firefly in European countries, Nio CEO William Li told reporters in Guangzhou that the company will collaborate with local partners.
On Saturday, Nio introduced the Firefly brand, positioning it as a competitor to Mini and Smart from BMW and Mercedes, respectively.
Firefly was the company's original plan to increase its European market share, but in October, the European Commission levied tariffs on Firefly and other electric vehicles manufactured in China that were marketed in Europe.
Firefly EV to Face EU Tariffs in Competitive Market
According to Li, Firefly would "definitely have" an effect from the tariffs. "If there wasn't tariffs, it definitely would have a better chance in the market."
"Even so, Firefly is very competitive because it is a product developed with real smart EV technologies, which Nio has been investing for a decade. We are confident in its product competitiveness."
In addition, Li announced that Nio would speed up the installation of battery-switching stations in Europe by using simpler designs that reduce construction costs and save time.
Battery-Swapping Stations to Boost EV Infrastructure
Firefly battery switching stations will be one-third the price of Nio-branded stations in Europe, according to Li. The company is also looking for local partners to expand its infrastructure in the area. Global EV growth has been sluggish this year, and infrastructure is a major reason why.
