Nio, a Chinese electric vehicle (EV) manufacturer, plans to launch its hybrid model in 2026 in overseas markets only, sources say.
Since its founding in 2014, Nio has struggled to break even while manufacturing pure electric vehicles.
Part of the company’s struggles have been linked to constant trade barriers that slow installation of charging facilities. An additional challenge comes from the European Union proposing tariffs of more than 20% on top of the 10% import duty, pushing Nio to transition to hybrid vehicles that are currently exempt from tariffs.
Abu Dhabi investment firm CYVN Holdings, Nio’s largest investor, spurred the company to develop the hybrid model, which it will release under its Firefly brand. The 2026 release would sell only in overseas markets, including the Middle East, Europe, and North Africa, according to two sources with knowledge of the plan.
Nio will unveil the model at its annual event in December this year.
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