NIO Inc. ( NIO ) shares are experiencing a rise in premarket trading on Wednesday, as the company officially gears up for the launch of its new sub-brand, Firefly, which is set to be unveiled this weekend.

The Firefly brand, focused on premium smart electric vehicles for global urban consumers, made a significant step forward today with the launch of its official WeChat account, mini-program, and mobile app, reports CnEV Post.

The brand also revealed its logo for the first time.

Firefly draws inspiration from the firefly insect, known for its glowing, self-illuminating nature. The brand describes itself as small, agile, energetic, and dynamic, targeting a younger, urban audience.

In addition to Firefly’s preparations, NIO also shared six new images of its ET9 sedan on Weibo, featuring a sleek blue exterior and highlighting several design details, CnEV Post writes.

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This comes just before Nio Day 2024, which will take place this Saturday in Guangzhou, Guangdong province. The event will spotlight the Firefly sub-brand and its debut model, along with the official launch of the Nio ET9.

The Nio ET9, which was first revealed at Nio Day 2023, carries a pre-sale price of RMB 800,000, making it the most expensive vehicle in Nio’s lineup.

Deliveries are expected to begin in the first quarter of 2025, marking a key expansion of Nio’s product range to appeal to a broader market.

Price Action: NIO shares are trading higher by 1.10% to $4.59 premarket at last check Wednesday.

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