Remember Nio? The Chinese rival to Tesla famous for its swappable battery and owners-only Nio House lounge. Like Tesla, Nio is in a lot of trouble. Nio’s next step is to improve its earnings is to introduce a lower priced, mass-market brand called Onvo, aimed at BYD BEVs.
The first Onvo model is a coupe-SUV style Onvo L6.
Although it’s aimed at BYD, Onvo will still count BYD as one of its battery suppliers, along with CATL.
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None of the above have been confirmed by Nio, but leaks to the Chinese press (likely to be coordinated by Nio, unofficially) suggests the above to the true.
At a glance, the Onvo L60 looks like a BYD Seal with a taller roof and higher ground clearance.
Last year, Nio’s losses doubled from 10.8 billion Yuan (~RM 7.2 billion) in the pre-pandemic 2019, to 20.3 billion Yuan (~RM 13.6 billion) in FY2023.
Over 15 years of experience in automotive, from product planning, to market research, to print and digital media. Garages a 6-cylinder manual RWD but buses to work.
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