While the Ledo L60 has not officially hit the market, another new car from NIO's sub-brand (internally codenamed Firefly) is expected to be officially delivered in the first half of next year. Positioned as a boutique compact car, it can be sold through the same channels as NIO (Ledo does not enjoy this privilege). Simply put, among the two newly emerged sub-brands, Firefly and NIO are more like the relationship between MINI and BMW. While Ledo and NIO are more like the relationship between Volkswagen and Audi. However, in terms of pricing, the first model of Firefly is expected to approach the 100,000 yuan threshold. Can such a price really create a so-called boutique compact car?

LOOKAR, a hatchback smaller than the NIO ET5, will not have 800V?

First, the first model of Firefly is destined to be "quite small." One piece of evidence is that the spy shots of the new car's road test at this stage, whether in terms of styling or chassis height, reveal that the new car doesn't even want to play "on the edge," but is a standard hatchback. Another piece of evidence is that the new car was originally planned to be launched in Europe. Combining the European market with compact cars makes more sense.

So how small might Firefly be? This requires reference to NIO's product characteristics. Taking the NIO ET5, which may be the closest in positioning, as an example, its body length is less than 4.8 meters. From a European perspective, it is a solid "standard wheelbase" mid-size car. But in reality, the wheelbase and axle length ratio of the NIO ET5 are not small, with a wheelbase of 2888mm and an axle length ratio of over 0.6, undoubtedly thanks to the pure electric vehicle platform. Based on this, it is speculated that the body of NIO Firefly is likely to be a standard compact sedan similar to the Volkswagen Golf. Even the classic chassis structure of front MacPherson and rear multi-link suspensions will be inherited. But Firefly, originating from a pure electric platform, can certainly achieve a larger wheelbase, which is a core advantage of electric vehicles compared to fuel vehicles.

Of course, Firefly also needs to consider the competitive pressure from new energy vehicles at the same price or level. NIO's NT3.0 platform, which has the ability of 800V high-voltage architecture, is undoubtedly one of the core competitiveness of NIO and Ledo. As a Firefly brand positioning as a boutique compact car under NIO, it would be surprising if it was not born from the NT3.0 platform. However, on the Firefly, the issues that the platform needs to address may be how to make the interior space more spacious, the floor lower and flatter, the center of gravity lower, and single-motor rear-wheel drive, among others. As for the 800V high-voltage platform, it is unlikely to be applied to Firefly.

In fact, there are real-world examples among similar models, such as the smart #1, which is based on the SEA Grand Architecture but does not use an 800V high-voltage system, opting instead for the more common 400V. One of the core reasons is that in small-sized models, the positive effect of 800V on product performance is limited, but the cost is quite significant. Faster charging speed and lower energy consumption are only highlighted in large-capacity batteries, high-performance output, and frequent long-distance conditions. All of which are characteristics or usage scenarios that small-sized models do not possess.

The flexibility of a standard A-class hatchback, the driving pleasure brought by rear-wheel drive and a low center of gravity, as well as a flatter interior space, among other things. These may be the product strength labels of NIO Firefly. In addition, Firefly can also share the core product strength moat of battery swapping with NIO. This undoubtedly has a strong appeal for models priced at the 100,000 yuan level. At the same time, it also conveniently solves the range anxiety caused by the lack of 800V.

LOOKAR, small battery plus battery rental, buying a swappable battery boutique compact car for 100,000 yuan?

The construction of battery swapping stations, especially in densely populated areas, is undoubtedly a high-frequency usage scenario for small-sized models like NIO Firefly. However, the size of the Firefly model determines that it cannot use a battery pack with a capacity exceeding 70kWh. This also means that Firefly cannot be compatible with NIO's earlier battery swapping facilities, including the third-generation battery swapping stations. As for the fourth-generation battery swapping stations, they are compatible with NIO Firefly models. This is not surprising, as automakers such as Changan, Geely, Chery, and Lotus have already joined NIO's battery swapping alliance. With different positioning and complex models, it is inevitable that they cannot use battery packs with exactly the same specifications. Therefore, starting from the fourth generation, the compatibility of NIO battery swapping stations is expected to be greatly improved.

From the perspective of the model, a smaller battery capacity does not necessarily mean a smaller battery size. For example, by using lithium iron phosphate batteries with lower energy density, a balance can be achieved in terms of energy density, size, and cost of the battery pack. And it will also perform better in terms of battery swapping compatibility. Even on the basis of supporting battery swapping, NIO Firefly may adapt a battery capacity below the average level of the same segment on the base model, thereby reducing the price threshold. Of course, the basis for such an operation is that this small-capacity battery can be compatible with the battery swapping stations.

The ability of NIO Firefly to significantly lower its price, even approaching the 100,000 yuan threshold, also relies on NIO's battery leasing model. Not long ago, NIO just lowered the official price of its BaaS service for its models. Considering that the monthly rent for a 75kWh battery pack is over 700 yuan, it is estimated that the monthly battery leasing cost for Firefly using the BaaS model will be around 300-400 yuan.

Lastly, although the usage conditions of NIO Firefly should mostly be within urban areas, there is a clear distinction in terms of intelligent driving from NIO and even the Ledo brand. Based on the currently exposed information, Firefly will be equipped with the Horizon Journey 5 chip, with a computing power of 128Tops. There is a significant gap in computing power compared to NIO's four NVIDIA OrinX chips and the single NVIDIA OrinX chip used in Ledo L60. From the perspective of intelligent driving, the Horizon Journey 5 chip smoothly covers high-speed scenarios and will not encounter many obstacles. However, the pressure on urban NOA performance will be greater. Nevertheless, the low power consumption and low cost brought by low-computing chips cannot be ignored. Considering the smaller size of the vehicle, the difficulty of urban driving is inherently lower, and the reliance on intelligent driving is relatively lower.

LOOKAR, written at the end

Apart from the intelligent driving section, Firefly's sense of product strength indeed seems closer to the NIO brand. The biggest core difference between the two is the size of the models. Firefly undoubtedly aims to take the route of boutique compact cars, covering the market below B-class cars that NIO cannot reach. Battery swapping is Firefly's core competitiveness in the boutique compact car market priced below 200,000 yuan. From this perspective, the possibility of Firefly appealing to existing NIO owners with additional purchase needs is extremely high. And through the BaaS service, NIO Firefly can also bring the price close to the 100,000 yuan threshold that is difficult for smart and MINI to cover. This allows for broadening the potential consumer base without compromising driving quality.

Author: Ruan Song