Chinese electric vehicle maker Nio on Wednesday launched the first vehicle in its new lower-priced brand Onvo which aims to compete there with Tesla's Model Y, the world's best-selling EV. Nio unveiled the Onvo L60 SUV with a sticker price starting from 219,

Chinese electric vehicle (EV) maker Nio has unveiled the first car from its new lower-priced brand Onvo, in a direct challenge to Tesla's best-selling car. With prices starting at 219,900 yuan ($30,465,

Chinese EV maker Nio has launched the first vehicle in its new lower-priced brand Onvo, which aims to compete there with Tesla's Model Y, the world's best-selling EV.

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.

Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla’s comparable Model Y. Deliveries for Onvo’s first car,

Onvo – targeted at China’s cost-conscious middle-income consumers amid fierce competition in the world’s largest EV market.