Nio on track to unveil its first mass-market car in May, executive says [Yahoo! Finance Canada]
Tesla, Inc. (TSLA)
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Source: Yahoo! Finance Canada
a new model under a mass-market brand by the end of this month and a second smaller EV to be sold in Europe next year for less than $30,000, a senior executive told Reuters on Monday. Nio has created the sub-brand Onvo to launch a new EV that Chief Executive William Li has said will take aim at the Tesla Model Y, the world's best-selling EV. "Nio is currently working on the launch of new car brands, that would be less premium, still obviously 100% electric, and more suited for the European market needs," Nicolas Vincelot, general manager for France, said during a France-China business forum in Paris. ADVERTISEMENT On Monday, the new website for the Onvo brand went live in China with a message to "stay tuned" for details on the new model, the L60. Vincelot said more details on the brand, until now code named "Alps", were expected by the end of the month. Onvo is one of two sub-brands the loss-making EV maker is launching. The second, developed under the code name Firefly, i
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- TSLA's page on the SEC website