Nio will introduce its first plug-in hybrid (PHEV) model in 2026 under its Firefly brand. It will target overseas markets like the Middle East, North Africa, and Europe, Reuters cited two people close to Nio’s investor CYVN Holdings.
Nio is introducing hybrids to tackle obstacles the company experiences abroad, such as slow expansion swapping station infrastructure and tariff restrictions, the report noted. Nio previously denied launching the PHEV model, claiming Firefly would be an EV-only brand.
Nio decided to develop an extended-range hybrid under the Firefly brand from CYVN Holdings, an Abu Dhabi-based investment firm and significant investor in Nio. CYVN suggested this move could help increase sales in the Middle East, where infrastructure for large-scale EV adoption is still underdeveloped.
Nio plans to launch the hybrid model by late 2026, with deliveries starting in 2027, sources say. The model will be marketed solely overseas, as Nio intends to keep its China lineup focused on battery-swapping electric vehicles.
On November 1, local media outlet Yicai reported, based on multiple sources, that the Firefly model would use PHEV powertrain and was set for a 2026 release. However, Nio’s co-founder and president, Qin Lihong, later claimed it was a fake report, clarifying that the Firefly brand will adhere to a purely electric strategy with charging, swapping, and upgrading capabilities.
