XPEV - Tesla Rival Nio To Roll Out Mass-Market EV Brand In May: Report | Benzinga
Chinese electric vehicle maker Nio Inc (NYSE:NIO) is reportedly set to introduce a new model aimed at the mass market by the end of this month, along with a smaller EV to be marketed in Europe next year for under $30,000.
Nio has established the sub-brand Onvo to roll out a new EV targeting Tesla Inc’s (NASDAQ:TSLA) Model Y, as confirmed by CEO William Li, reported Reuters.
During a France-China business forum in Paris, Nicolas Vincelot, general manager for France, revealed plans for the launch of new car brands tailored for the European market, mentioned the report.
The new website for the Onvo brand debuted in China, teasing details about the upcoming model, the L60.
Vincelot anticipated further information about the brand, previously known as ...