China's Nio said on Tuesday it would launch its Firefly electric vehicle in Europe in the third quarter, later than initially forecast, after it underestimated challenges involved in sales and service network expansions in the region.

Nio is launching sales of the first model of its global electric car brand Firefly in China. The Firefly EV is a compact five-seater and is available there

NIO (NYSE:NIO) officially launched its Firefly sub-brand’s first electric vehicle model on April 19 in China to mark a major push into the compact, urban electric vehicle segment and setting the stage for global expansion.