NIO launches new sub-brand Onvo in mainland China
NIO plans to launch one new model under Onvo brand every year.
Electric vehicle maker NIO has launched a new sub-brand called Onvo in mainland China to compete with entry level Tesla models. NIO has also launched the first vehicle under the brand, Onvo L60. The L60 sport utility vehicle has been priced starting at 219,900 Chinese yuan.
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