40% of NIO Onvo store managers previously worked for Tesla, as the company partners with BYD for batteries and targets 10K monthly deliveries, launching the L60 SUV.

NIO, a Chinese electric vehicle manufacturer, reports that 40% of its Onvo store managers in China previously worked for Tesla. The company plans to launch the L60 SUV, priced significantly lower than Tesla's Model Y, aiming to capture budget-conscious consumers. NIO has also partnered with BYD for batteries and targets 10,000 monthly deliveries by December. NIO shares rose 6.87% following these announcements.

September 19, 2024
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