04:51 AM EST, 11/04/2024 (MT Newswires) -- NIO (NIO) plans to sell its first hybrid model exclusively out of China after its 2026 launch, Reuters reported Monday, citing unnamed people with knowledge of the matter.

The Chinese carmaker has so far produced only pure electric vehicles for both its domestic market and overseas. It plans to sell its first hybrid model under its Firefly brand in markets that include North America, Europe, and the Middle East, Reuters reported.

The hybrid model was the suggestion of NIO's main investor, Abu Dhabi's CYVN Holdings, Reuters reported.

It is scheduled to be launched in late 2026 and begin deliveries in 2027, the report said.

NIO did not immediately reply to MT Newswires' request for comment.

(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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