Market Chatter: Nio Plans to Launch One Onvo Brand Model per Year-March 2024-www.financetom.com

Market Chatter: Nio Plans to Launch One Onvo Brand Model per Year

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Market Chatter: Nio Plans to Launch One Onvo Brand Model per Year

May 16, 2024 3:15 AM

05:59 AM EDT, 05/16/2024 (MT Newswires) -- Nio (NIO) plans to launch one new model under its Onvo brand per year at prices similar to gasoline vehicles, Reuters reported Thursday, citing a statement from the company.

The company reportedly said it expects the Onvo brand to boost its overall profitability when sales reach 20,000 units per month. Nio plans to design the next Onvo vehicle for larger families, Reuters reported.

Nio did not immediately respond to MT Newswires' request for comment.

(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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