SHANGHAI, May 16 (Reuters) - Chinese electric vehicle

maker Nio said on Thursday it will launch one new car

model per year under the Onvo brand and will have a second model

targeting larger families coming up next.

Nio executives were speaking a day after the company unveiled

the Onvo L60 SUV with a sticker price starting from 219,900 yuan

($30,476), 12% below the price of Tesla's Model Y which starts

at 249,900 yuan in China.