First of Nio’s two new EV brands will be called Onvo

Nio doesn’t have widespread recognition like Tesla or even fellow Chinese EV manufacturer BYD, but it’s already ready to introduce two new brands to help boost sales by offering EVs at a lower selling price than its own premium offerings. One of the brands, confirmed as Onvo, will be aimed at families. The other, which still goes under its Firefly…Nio doesn’t have widespread recognition like Tesla or even fellow Chinese EV manufacturer BYD, but it’s already ready to introduce two new brands to help boost sales by offering EVs at a lower selling price than its own premium offerings. One of the brands, confirmed as Onvo, will be aimed at families. The other, which still goes under its Firefly…