08:32 AM EDT, 05/07/2024 (MT Newswires) -- Nio (NIO) has partnered with BYD to source batteries for an electric vehicle brand to compete with Tesla (TSLA), Reuters reported, citing three sources familiar with the details.

Nio has said it expects the new Onvo L60, priced at a lower range, to compete with the Tesla Model Y, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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