Nio Inc. (NYSE:NIO) saw its stock gain in premarket trading Friday as its premium compact electric vehicle (EV) brand Firefly reportedly began delivering its first units to customers in Europe.
Firefly confirmed that the milestone took place on August 14 in both Norway and the Netherlands, marking the start of the brand’s overseas rollout, CnEV Post reports.
The move represents a significant step in Nio’s multi-brand expansion strategy aimed at tapping into global small EV markets.
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Norway’s first Firefly owner said she primarily drives in urban environments and found the compact size ideal for navigating city streets. She also highlighted that safety was a top priority for her, and the model met those expectations.
The Firefly nameplate debuted during Nio Day on December 21, 2024, as the automaker’s answer to competitors like BMW’s Mini and Mercedes-Benz’s Smart.
The inaugural model, which shares its name with the brand, hit the Chinese market on April 19 this year.
Over 2025, Firefly has accelerated its international footprint through a national distributor framework.
The company plans to enter six more European markets, Belgium, Denmark, Austria, Hungary, Portugal and Greece, before year-end, with further regional expansion expected, CnEV Post adds.
Executives indicated the brand will deploy adaptive market-entry strategies to improve penetration rates worldwide.
The global EV market remains highly competitive as automakers race to capture emerging demand for smaller, urban-friendly electric cars.
According to Benzinga Pro, NIO stock has gained over 16% in the past year. Investors can gain exposure to the stock via Invesco Golden Dragon China ETF (NASDAQ:PGJ).
Alongside Nio, other manufacturers such as Tesla Inc. (NASDAQ:TSLA) and BYD Company Ltd. (OTC:BYDDF) have also been exploring compact EV formats for international customers.
Price Action: NIO shares are trading higher by 2.25% to $4.560 premarket at last check Friday.
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