Nio unveils new Onvo brand alongside introduction of L60 crossover

Chinese EV manufacturer Nio is making big moves in the electric vehicle market with the introduction of two new brands, Onvo and Le Dao. These brands are designed to offer EVs at lower price points than Nio’s premium offerings, in order to attract a wider range of customers.

Onvo, which stands for “on voyage”, is targeting families with its first model, the L60 compact crossover. Priced at 219,900 renminbi (approximately $30,500) in China, the L60 is set to compete with the likes of the Tesla Model Y, which starts at 249,900 renminbi ($35,600). With deliveries expected to start in September, Onvo is poised to make a splash in the market.

Meanwhile, Le Dao, operating under the code name Firefly, will focus on compact EVs for urban environments, with prices expected to be below $30,000. This brand is set to offer affordable electric options for city dwellers looking to make the switch to cleaner transportation.

Both Onvo and Le Dao have plans to expand outside of China, including into European markets where Nio has already established a presence. However, a U.S. launch for Nio or its additional brands has not been announced, and could be impacted by the recent increase in tariffs on Chinese-made EVs by the Biden administration.

The L60, measuring 190 inches long, offers more interior space than the Tesla Model Y. It also features battery options ranging from 60 to 150 kWh, with the largest option utilizing a semi-solid state battery from China’s Welion. This battery technology has demonstrated an impressive range of almost 650 miles in near-freezing temperatures.

In addition to their affordable pricing and advanced battery technology, Onvo and Le Dao vehicles will have access to Nio’s extensive network of battery swapping stations and public chargers across China. This network is also being expanded into European markets, providing convenience and peace of mind for EV owners.

Overall, Nio’s new brands are set to shake up the EV market with their combination of affordability, advanced technology, and expansive charging infrastructure. As the electric vehicle industry continues to grow, these brands are positioning themselves to become major players in the market.

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