Nio, a Chinese electric vehicle (EV) maker, plans to introduce a new model this month under its mass-market brand. It also aims to unveil a smaller model targeting a sub-$30,000 price tag next year.
According to a senior executive from Nio, the company is focusing on the launch of the L60 under the mass-market brand this month. Additionally, they plan to introduce a second, smaller EV in Europe next year under another sub-brand.
The Onvo webpage hints at the impending launch of the L60, with more details promised in the coming weeks. Onvo is the first sub-brand Nio aims to launch, originally known as “Alps,” while the second one, code-named Firefly, will develop smaller EVs for city driving.
Both Onvo and the Firefly brand are expected to target the European market, with the latter set to be unveiled next year.