Tesla Rival Nio's Firefly Begins Deliveries In Greece, Denmark As Chinese Automakers Flock To Europe

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NIO NIO	4.93	+1.44%
Tesla Motors, Inc. TSLA	483.37	+3.45%
XPENG INC. XPEV	18.60	+2.82%
BYD COMPANY LIMITED BYDDF	12.09	+0.27%
BYD COMPANY LIMITED BYDDY	12.02	-0.08%

Chinese automaker Nio Inc. (NYSE:NIO) has officially kicked off deliveries for its Firely EVs in Greece and Denmark.

Deliveries Commence In Europe

Taking to the social media platform Weibo, the company shared that the Firefly EV was heading to Europe.

"Delivery has officially begun in the Netherlands, Norway, Belgium, Denmark and Greece," the company said in its post. It added that the booking and test drives for the vehicle have begun in Portugal and Austria.

The vehicle is available for a retail price of around EUR 29,900 (approximately $34,700) and 279,900 Norwegian Crowns (approximately $27,500). The Firefly offers a WLTP range of over 205 miles and is powered by a 42.1 kWh LFP battery pack.

*Source: Firefly via Weibo (Originally in Chinese)*

Nio's Firefly Delay, Q3 Deliveries

Nio had earlier delayed the launch of the Firefly in Europe from the planned timeline of the first half of the year to Q3 2025, citing constraints related to expanding its sales and services network within the region.

Nio reported 36,275 deliveries during November, a 76% surge when compared to the same period last year. Out of the total deliveries, Nio said that 18,393 vehicles comprised the Nio brand units, while 11,794 vehicles were Onvo and 6,088 vehicles from the Firefly brand.

BYD's Europe Growth, Xpeng's Expansion

Meanwhile, Chinese automakers are flocking to the region amid a global expansion, with BYD Co. Ltd.'s (OTC:BYDDY) (OTC:BYDDF) sustained growth in the European market, which saw the company record a 206.8% surge in European registration during October, with 17,470 units registered in the region. Tesla Inc. (NASDAQ:TSLA) sales, on the other hand, have been falling in the market.

Elsewhere, rival Xpeng Inc. (NYSE:XPEV) also announced earlier that it would be entering three new countries in the European market: Estonia, Lithuania and Latvia, as well as Cambodia in the Asian market.

Nio scores well on the Momentum metric, but offers poor Growth. It also has a favorable price trend in the Long term. For more such insights, sign up for Benzinga Edge Stock Rankings today!

Price Action: NIO declined 0.80% to $4.99 during Pre-market trading, according to Benzinga Pro data.

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Photo courtesy: Robert Way via Shutterstock

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