Nio is reportedly looking to sell a hybrid model outside of China
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Nio (NYSE:NIO) reportedly plans to launch its first hybrid model in 2026. Sources told Reuters that the hybrid model will not be sold in China, but is expected to be offered in the Middle East, North Africa, and Europe.
The vehicle would be part of Nio’s (NIO) Firefly brand, which is aimed at producing more affordable electric vehicles, and positioned below the main premium brand and the Onvo brand.
Nio (NIO) is believed to be building the hybrid vehicle as part of a strategic response to ongoing challenges faced by Chinese automakers selling electric vehicles in foreign markets that either have trade barriers or are slower to install charging facilities. In particular, the hybrid move could help Nio (NIO) grow its brand in the Middle East, which is behind on EV infrastructure.
Shares of Nio (NIO) were up 1.4% in premarket trading on Monday. The EV stock is down more than 40% on a year-to-date basis.