Nio (HKG:9866, SGX:NIO) will postpone the launch of its Firefly electric vehicle in Europe in the third quarter due to unforeseen challenges in sales and service network expansions, Reuters reported Tuesday, citing Chief Executive Officer William Li.
The EV model was due for launch in the first half to counter Mercedes-Benz's Smart and BMW's Mini, the report said, citing remarks by Li during an event ahead of the Shanghai auto show.
Nio is also seen to launch a right-hand drive version of the Firefly in October, the report said, citing Nio Preisdent Qin Lihong.
Nio is looking to partner with local firms to expand in Europe, and will announce new partnerships during the show, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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