Nio Inc (NYSE:NIO) stock was trading higher Thursday amid reports that the EV maker is launching its first vehicle under the Onvo brand, marked at a discount versus Tesla Inc (NASDAQ:TSLA). It has reversed the gains since then. Nio’s L60 SUV will be priced around $4,000 less than Tesla’s Model Y. Nio plans to deliver the L60 in September. Nio’s CEO, William Li, mentioned in a CNBC interview that he anticipates Onvo will eventually sell its cars internationally. Also Read: Tesla’s Chinese Rival N
Lay Off Li Auto Stock Until the Chinese EV Sector Shows Signs of Cooling msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.