NIO Inc. (NYSE:NIO) just made one of the more unexpected comparisons of earnings season—and it came straight from CEO William Li.

Discussing the company’s Firefly brand during the Q2 earnings call, Li said NIO plans to stick with a single-model strategy, refreshing it through special editions and technology upgrades rather than constantly expanding the lineup.

“For Firefly, it’s a bit like taking the iPhone approach, where it will stay the same product but with new additions,” Li said.

A Different Product Strategy

The comparison stands out because China’s EV market has largely been defined by rapid model launches and relentless competition. Instead of chasing a broader portfolio, NIO appears to be betting that continuous refinement of a single product can strengthen brand identity and keep customers engaged over time—an approach long associated with Apple Inc‘s flagship iPhone.

Whether that strategy resonates remains to be seen, but it signals that at least one Chinese EV maker is thinking less about launching more models and more about building a recognizable consumer brand.

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