Nio says new Onvo L60 has 1000 km range and cheaper than a Model Y



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On May 15th, Nio unveiled its new mass-market brand, Onvo, positioned as a subsidiary under the Nio umbrella with a target demographic of young families. Onvo, derived from “On Voyage,” carries the Chinese moniker Ledao translating to “road to happiness.” Deliveries are slated to commence in September, with presales kicking off today at a starting price of 219,900 yuan (equivalent to $30,500 USD).






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