As competition intensifies in the EV market, Chinese automaker Nio is turning heads with its sub-brand Firefly, which focuses on compact electric vehicles. In a strategic move, Firefly has launched its Battery-as-a-Service (BaaS) model earlier than expected, aiming to make electric cars more affordable and accessible.
The brand’s debut vehicle, Firefly EV, is now available in China without a battery for around $11,120, which marks a significant 34% discount compared to the standard version priced at $16,800 (with battery). Even the higher trims benefit from this model, offering up to 32% in savings.
With the BaaS model, customers do not need to purchase the battery outright. Instead, they pay a monthly fee of approximately $55 for battery rental. Firefly is also launching a limited-time promotion valid until June 30: after paying for one month, the following month's rental is free, and this perk will be valid for three years.
One of the biggest advantages of this model is its impact on the used car market. Since the battery remains the property of the provider, concerns about battery degradation and resale value are minimized. Moreover, users avoid the costs and complications of battery insurance or warranty claims, making EV ownership much more straightforward.