Nio does not have widespread recognition like Tesla and even fellow Chinese language EV producer BYD, but it surely’s already able to introduce two new manufacturers to assist increase gross sales by providing EVs at a decrease promoting worth than its personal premium choices.

One of many manufacturers, confirmed as Onvo, will likely be aimed toward households. The opposite, which nonetheless goes underneath its Firefly code title, will concentrate on compact EVs for city environments, with costs anticipated to dip beneath $30,000.

Nio has established a web site for Onvo in China the place a message says to “keep tuned” for info on the model’s first mannequin, a compact crossover to be known as the L60. The debut is anticipated later this month.

Reuters, citing feedback from Nicolas Vincelot, Nio’s basic supervisor for France, reported on Monday that the Onvo L60 will begin gross sales by the tip of the yr, together with exterior of China. It will likely be adopted by the primary mannequin from Firefly in 2025, based on the report.

In accordance with Reuters, Xpeng, Volkswagen’s accomplice in China, can be engaged on a extra inexpensive model to be known as Mona. EVs from Mona will reportedly begin beneath $21,000.

Nio affords a various vary of SUVs, plus a sedan and associated wagon. The autos are priced on the premium finish of the EV phase, according to autos from BMW and Mercedes-Benz.

Nio can be growing know-how, together with battery swapping, ultra-fast charging, and semi-solid- and solid-state batteries. In an illustration final yr, the corporate’s ET7 sedan traveled virtually 650 miles in near-freezing temperatures utilizing a prototype semi-solid-state battery with a 150-kwh capability.

Nio sells the majority of its autos in China however not too long ago expanded to a handful of European international locations. A U.S. launch for Nio or any of its extra manufacturers hasn’t been introduced.