Nio's Mass-Market EV Brand Will Be Led By Former Disney Exec Whose Name Literally Means 'Will Surely Succeed'
Portfolio Pulse from Anan Ashraf
Nio Inc. (NYSE:NIO) has announced that its new sub-brand Onvo, which will focus on mass-market EVs, will be led by former Disney executive Ai Tiecheng. Onvo's first EV, the L60 SUV, is designed to compete with Tesla's Model Y and is expected to launch globally by the end of the year.
May 15, 2024 | 12:43 pm
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Nio Inc. has launched a new sub-brand, Onvo, aimed at the mass-market EV segment. The brand will be led by former Disney executive Ai Tiecheng. Onvo's first vehicle, the L60 SUV, is designed to compete with Tesla's Model Y and is expected to launch globally by the end of the year.
The launch of Onvo and its competitive positioning against Tesla's Model Y could significantly boost Nio's market presence in the mass-market EV segment. The leadership of Ai Tiecheng, with his strong marketing background, adds credibility to the brand's potential success.
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