Reported 10 months ago
Nio introduced the lower-priced Onvo brand as a challenge to Tesla, unveiling the L60 SUV at a price point 12% lower than the Model Y. Despite a 7% revenue drop in the first quarter, Nio's CEO William Li is optimistic about their investments paying off, with plans for a new model launch for Nio and expansion to the United Arab Emirates. However, analysts have varying views, with Bank of America Securities raising their price target to $6 and Citi analyst Jeff Chung lowering theirs to $8.50.
Source: YAHOO