Nio will officially launch the Onvo brand on May 15 at 7:30 pm Beijing Time, when the event will be streamed live in video.
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Onvo's first model, the Onvo L60, will take on the Tesla Model Y, targeting the market for smart, all-electric SUVs for families in the RMB 250,000 yuan ($34,600) class, Nio said.
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Nio will officially launch sub-brand Onvo on May 15, with the new brand's first model to go on sale in the third quarter and deliveries to begin in the fourth quarter, according to local media.
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This is the first time the side of the Onvo L60 has been seen in its entirety without camouflage, showing that the model looks somewhat similar to Nio's coupe SUV model, the EC6.
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BYD has been renovating its battery pack production lines in Anhui province and will supply smaller a battery pack for a version of Onvo's new EV, according to Reuters.
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Onvo's website address is onvo.cn, and the text in the center of the page reads "First model L60, stay tuned."
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Onvo L60 from Nio will have batteries from 60 and 90 kWh battery packs from BYD and CATL. Plus other key specifications.
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The head of the Onvo brand is Ai Tiecheng, a senior vice president at Nio who was previously general manager of WeWork Greater China.
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A Nio website page that's only been available for a few hours describes the Onvo brand and the key features of the sub-brand's mobile app.
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A camouflaged Onvo L60 exits a Nio battery swap station, marking the first time the model has been seen performing a battery swap.
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