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.
Nio CEO William Li said he expected that Onvo would sell its cars overseas at some point, but didn't specify when, according to an interview with CNBC'sSince launching about 10 years ago, Nio has focused on the premium segment of cars, priced around 300,000 yuan or higher. The company has since expanded to Europe, but its monthly deliveries in China have generally remained modest versus competition.
The Model 3 has since cut its price by about $2,000 to 231,900 yuan, according to Tesla's China website. Xiaomi said Wednesday it had delivered 10,000 SU7 vehicles., which sold more cars than Elon Musk's automaker last year when including hybrids, mostly sells cars in the range of 100,000 yuan or below. BYD has started to expand into higher-price segments in the last few years.from the Biden administration on imports of the vehicles to the U.S.
The brand's name stands for"On Voyage," while its Chinese name"Le Dao" is meant to evoke a family having a happy time together.He claimed the L60's interior was more spacious than that of Tesla's Model Y and Toyota's Rav4. He also showed videos that claimed Onvo's new car had better shock absorption and cut tighter figure-eights than those of competitors.
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