The NIO Firefly is a compact electric hatchback made in China. If you are weighing one up in Singapore, this guide puts figures on the costs we can show: the list price, COE, road tax and car insurance.
Insurance figures here are examples for one stated driver, read on 1 November 2026. They help you compare. They are not your quote.
The version on sale
The new-car list read on 2026-10-10 shows one version:
- Firefly Electric 42 kWh: electric, 133bhp
Its body type is listed as hatchback, made in China. Our quote form prices the Firefly 42 kWh (electric), and every premium below is for it.
List price
As listed on 2026-10-10, the Firefly Electric 42 kWh was S$183,999, including COE that day. Prices are revised after COE rounds. Ask for the current figure and what it includes.
COE for an electric Firefly
The price page states the rule. A fully electric Firefly needs a Category A COE if its motor is 110kW (147bhp) or less. A more powerful motor needs Category B.
In the October 2026 2nd round, Category A closed at S$132,004 and Category B at S$131,901. The COE page carries each new round.
Road tax on a 133bhp motor
For the 133bhp (99kW) electric motor, LTA's formula gives S$1,495.68 a year, checked on 2026-10-19. That is before any age surcharge.
Electric road tax follows motor power, so a small electric car can still pay a fair sum. The age surcharge applies after 10 years:
- Over 10 years: +10%
- Over 11 years: +20%
- Over 12 years: +30%
- Over 13 years: +40%
- Over 14 years: +50%
The road tax page shows how the figure is built.
Insuring a Firefly: the page's driver
The NIO Firefly price page prices:
- Car: Firefly 42 kWh, 3 years old, private use, comprehensive cover
- Driver: aged 40, married, office job, 10 years' driving
- Record: 50% NCD, no claims
- Repairs: authorised workshop, no options
3 insurers price it online. The lowest premium is S$997.83 a year. The other two each ask S$1,498.65, which is S$500.82 more, or 50% on top. Both of those are marked as estimates. All figures include 9% GST.
For the standard driver, the lowest premium is about two thirds of the yearly road tax. Taken together, those two bills are the main yearly costs we can show for this car. Charging, parking and servicing come on top and depend on you.
A large excess on the lowest plan
The lowest premium carries a S$2,500 excess. The two dearer plans carry S$600. So you save on the premium but pay much more towards a claim. Weigh the two together before you settle on one.
Fifteen insurers on our panel give no online price for the Firefly. Most have no rate for it yet. One does not list the model, and two do not quote electric cars online.
How the premium responds
With one detail changed, the price page shows these lowest prices:
- No NCD (0%): S$1,875.64, S$877.81 more
- 20% NCD: S$1,509.56, S$511.73 more
- Aged 27, 3 years' driving, 30% NCD: S$2,036, S$1,038.17 more
- Aged 65, 20 years' driving: S$1,121.72, S$123.89 more
- New car, registered this year: S$972.83, S$25 less
- Car 8 years old: S$941.40, S$56.43 less
All 3 insurers price every row. The young driver case costs most, at 104% above the standard figure. No NCD comes next.
Both car age rows come out lower than the 3-year-old case. A new Firefly shows S$25 less, and an 8-year-old one S$56.43 less.
The same insurer leads every row. On the standard case, its plan has the S$2,500 excess. So check the excess on any figure you compare.
Against other electric cars
The price page lists six similar electric cars, for the same driver and car age:
- BMW iX1: S$1,907.27, 2 insurers
- BYD Sealion 7: S$1,390.72, 7 insurers
- Tesla Model Y: S$939.71, 10 insurers
- BYD Atto 3: S$913.63, 10 insurers
- Tesla Model 3: S$913.62, 10 insurers
- BYD M6: S$861.41, 9 insurers
Their average lowest price is S$1,154.39. The Firefly is 14% below that average. Even so, 4 of the 6 are cheaper to insure. The BMW iX1 and BYD Sealion 7 cost more and lift the average.
The four cheaper rivals each draw 9 or 10 prices online. The Firefly draws 3. More NIO models are on the NIO car insurance page.
Costs that depend on you
- Charging: home, workplace and public charging all differ in cost. Your distance sets the total.
- Parking: season parking at your HDB block or condo, plus elsewhere.
- ERP: depends on your routes and times.
- Servicing and wear: follow the maker's schedule. Tyres and brakes still wear. Check the battery warranty's terms and length.
- Depreciation: what you pay now against what the car fetches later.
Summary of yearly costs we can show
For the NIO Firefly 42 kWh, with dates:
- Road tax: S$1,495.68 a year before any age surcharge (checked 2026-10-19)
- Insurance, standard driver: from S$997.83 a year (1 November 2026)
- Insurance, no NCD: from S$1,875.64
- Insurance, driver aged 27 with 30% NCD: from S$2,036
One-off costs, for reference: S$183,999 as listed on 2026-10-10, COE included. The October 2026 2nd round COE was S$132,004 for Category A and S$131,901 for Category B.
Before you buy: car insurance for the NIO Firefly
Before you drive off, get your car insurance through Shenton Brokers. Compare car insurance for the NIO Firefly to see today's prices from every insurer we compare and how they change with the driver and the car's age. Or get a quote with your own details.