China’s Nio aims to launch one new car model per year under Onvo brand
SHANGHAI (Reuters) -Chinese electric vehicle maker Nio said on Thursday it would launch one new model per year under its lower-priced Onvo brand and price them similarly to gasoline vehicles, as the firm expands its lineups to family cars in the country’s overcrowded auto market. The announcement came a day after the company unveiled the Onvo L60 SUV with a sticker price starting from 219,900 yuan ($30,476), 12% below the price of Tesla’s Model Y which starts at 249,900 yuan in China. Nio said on Thursday it would have a second Onvo model targeting larger families coming up next and expected the newly launched brand to positively contribute to its overall profitability when monthly sales reach 20,000 units.
Reuters