CnEVPost Newsletter: Nio launches Onvo sub-brand; Xiaomi EV plans double-shift production

Nio formally launches Onvo sub-brand, 1st model L60 to challenge Tesla Model Y

Onvo has begun pre-sales of the L60 at RMB 219,900 ($30,440), RMB 30,000 less than the Tesla Model Y. The L60 will hit the market and begin deliveries in September.