NIO confident its affordable Firefly EVs will still be competitive despite EU tariffs
With additional tariffs expected on imported Chinese EVs, NIO says its affordable Firefly brand will still be competitive in the EU. Although it may impact sales, CEO William Li is still confident in the EV maker’s expansion plans.
NIO announced plans to enter the mass-market EV market in 2021. However, it wasn’t until January 2023 that NIO publicly confirmed the Firefly brand existed.
According to NIO president Qin Lihong, Firefly EVs will be priced between $13,800 (100,000 yuan) and $27,500 (200,000 yuan). At the time, NIO’s president said the affordable EVs would launch in the EU in the third quarter of 2024.
In an interview last month, Qin explained that although the brand was ready, the launch was delayed until Q2 2025.
Earlier this month, local media reported that NIO was shifting plans and would accelerate Firefly’s launch in China first. According to the report, NIO’s affordable Firefly EVs are expected to debut in China by the end of the year, ahead of the EU in the first half of 2025.
NIO confident in affordable Firefly EVs despite EU tariffs
NIO’s CEO, William Li, assured the new brand could still make its mark in Europe even with additional tariffs during an event Wednesday (via CnEVPost).
Li criticized the decision, saying, “The EU originally imposed a 10 percent tariff on Chinese EVs, and now an additional 21 percent has been added, raising it to 31 percent, which is definitely not right.”
NIO’s leader called it a conflict of logic as Europe is viewed as a global role model for clean energy.
The comments come after the EU revealed potential additional tariffs on Chinese EV imports by up to 38.1% last week.
Although a final decision has yet to be made, Li remains confident in its affordable Firefly EVs in the EU. “We certainly don’t want to end up with so many additional tariffs, but if that’s what’s ultimately decided, then for Firefly, even with these additional tariffs, it will still be competitive in Europe,” Li explained.
Li added, “Even if we are going to be hit with so many tariffs, we still have a chance, we are still competitive, but of course, it will affect some sales and profits.”
If volume reaches around 100,000 units, NIO may consider producing the EVs in Europe. “It’s something that has to be done to go global,” Li explained. However, “The initial volume may not be enough to support,” Li said, making it not cost-effective.
If no resolution is found, NIO and its affordable Firefly EVs will be subject to the EU’s 21% weighted average additional import tariff.
Other leading Chinese EV makers, like BYD, also remain confident in their expansion plans amid looming EU tariffs. In fact, BYD sees bigger profits on some EVs sold in Europe than in China, even with tariffs.
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Blink Charging (Nasdaq: BLNK) has struck a deal with Hubject to make charging easier for EV drivers across North America.
The agreement will bring Blink into Hubject’s intercharge eRoaming platform as a charge point operator. That means electric mobility service providers (eMSPs) and their customers in the US, Canada, and Mexico will soon have access to Blink’s charging stations through their existing apps. In turn, Blink drivers will gain better access to stations connected through Hubject’s network.
Hubject, which already connects more than 1 million charging points and 2,750 partners worldwide, expects the integration to strengthen its North American presence by adding Blink’s wide-ranging network of chargers, from Level 2 workplace stations to DC fast charging. Blink, meanwhile, anticipates more customers will plug in, thanks to Hubject’s reach.
“Our collaboration with Blink marks an important step in expanding our North American intercharge network,” said Trishan Peruma, CEO of Hubject North America. “By integrating Blink’s network into our eRoaming platform, we aim to help reduce barriers that have historically complicated EV charging and to support the continued growth of EV adoption across the United States, Canada, and Mexico.”
Blink Charging’s president and CEO Mike Battaglia added, “Connecting the Blink Network to Hubject’s platform will allow more drivers to benefit from interoperable charging while traveling.”
The integration will use the industry-standard OCPI protocol to keep billing and communication between networks secure and reliable. Deployment is planned in phases throughout 2025, with full integration targeted for the end of the year.
Read more: Blink just made it a lot easier to find its charging stations
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Hyundai wants to make the electric sports car for everyone. Not just those who can afford it. The new Hyundai IONIQ 5 N Essentials trim was launched in Korea on Monday, offering a lower price tag but the same thrilling drive.
Hyundai launches new IONIQ 5 N Essentials in Korea
The IONIQ 5 N is Hyundai’s first EV sports car under the IONIQ series. Initially launched in 2023, the IONIQ 5 N marked a new era for Hyundai’s high-performance N division.
Hyundai’s electric hot hatch not only looks the part with added sporty “N” branded elements scattered inside and out, but it’s also packed with fun features, advanced tech, and a host of drive modes.
Based on a dual-motor all-wheel drive (AWD) powertrain, the IONIQ 5 N delivers up to 641 horsepower when N Grin Boost is engaged. Even without it, the electric sports car packs 601 hp.
It also draws power from an 84 kWh battery, good for an EPA-estimated range of 221 miles. On the WLTP scale, it’s rated with an official range of 278 miles (448 km). The added power results in a lower range than other IONIQ 5 trims.
Although it was already one of the most affordable sports cars, EV or gas-powered, Hyundai is lowering the price even further.
After launching the new Essentials model in South Korea on Monday, Hyundai said the new trim “is characterized by lowering the barrier to entry so that customers can experience the overwhelming driving performance of the IONIQ 5 N at a reasonable price through optimized specifications.”
Hyundai focused on core convenience features while including the same high-performance motors, battery, and N-specific elements as the base model.
A Hyundai official said, “The Essential trim of the IONIQ 5 N is a new trim that offers greater cost-effectiveness to lower the barrier to entry for high-performance electric vehicles.”
The IONIQ 5 N features advanced driver assistance systems (ADAS), including highway driving assist and navigation-based smart cruise control. Hyundai has also added an exclusive new “Parking Assist Lite” package, offering safety and convenience features such as surround view monitoring and rear parking assistance.
The new Hyundai IONIQ 5 N Essentials trim starts at 74.9 million won ($54,000), including tax benefits. Hyundai said it will continue to make competitive products so more buyers can experience high-performance EVs.
Although the Essentials trim is not available in the US, the IONIQ 5 N is still more affordable than most sports cars. The 2025 Hyundai IONIQ 5 N starts at $66,200. But, with the $7,500 tax credit, which is set to expire on September 30, leases are currently listed as low as $549 per month.
Looking to test the IONIQ 5 out for yourself? You can use our link to find the Hyundai IONIQ 5 and high-performance N models near you today (trusted affiliate link).
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A federal judge has cleared the way for Ørsted’s nearly complete 704-megawatt (MW) Revolution Wind offshore wind farm to restart construction, overturning a stop-work order imposed by the Trump administration.
Reagan-appointed senior US District Judge Royce C. Lamberth granted a preliminary injunction in Washington, DC, calling the government’s conduct “the height of arbitrary and capricious government conduct.” He added, “If Revolution Wind cannot meet benchmark deadlines, the entire project could collapse. There is no doubt in my mind of irreparable harm to the plaintiffs.”
Ørsted welcomed the ruling and said in a statement, “Revolution Wind will continue to seek to work collaboratively with the US Administration and other stakeholders toward a prompt resolution. Revolution Wind will resume impacted construction work as soon as possible, with safety as the top priority.”
The decision marks a significant setback for the Trump administration’s attempts to stall offshore wind development. Revolution Wind is already about 80% complete, with all turbine foundations and 45 of 65 turbines successfully installed, and expected to power 350,000 homes in Rhode Island and Connecticut. Earlier this month, the two states’ attorneys general announced they were suing the Trump administration to overturn its “baseless” decision to halt Revolution Wind. That underlying lawsuit challenging the stop-work order will continue to progress.
Oceantic Network CEO Liz Burdock said, “Today’s decision allowing work to resume on Revolution Wind is welcome news for the hundreds of skilled workers who can now return to their jobs while the legal process continues. This Made in America energy project is putting Americans to work building reliable, affordable power to communities across New England that desperately need it.”
Read more: Connecticut, Rhode Island sue Trump to save 80% complete offshore wind farm
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FTC: We use income earning auto affiliate links. More.
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