Is that a jacked up BYD Seal? No, it's the Onvo L60; Nio's mass-market model

Remember Nio? The Chinese rival to Tesla famous for its swappable battery and owners-only Nio House lounge. Like Tesla, Nio is in a lot of trouble. Nio’s next step is to improve its earnings is to introduce a lower priced, mass-market brand called Onvo, aimed at BYD BEVs. 

The first Onvo model is a coupe-SUV style Onvo L6.

Although it’s aimed at BYD, Onvo will still count BYD as one of its battery suppliers, along with CATL.

None of the above have been confirmed by Nio, but leaks to the Chinese press (likely to be coordinated by Nio, unofficially) suggests the above to the true.

At a glance, the Onvo L60 looks like a BYD Seal with a taller roof and higher ground clearance.

Last year, Nio’s losses doubled from 10.8 billion Yuan (~RM 7.2 billion) in the pre-pandemic 2019, to 20.3 billion Yuan (~RM 13.6 billion) in FY2023.