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Market
Market share of Onvo L60 in its first year
4
Resolution / Starting Odds
Under 5% • 25%
5% to 10% • 25%
10% to 15% • 25%
Over 15% • 25%
Automotive industry market share reports
Story
NIO Launches Mass-Market Onvo Brand with L60 to Compete with Tesla Model Y
May 15, 2024, 11:49 AM
Chinese electric vehicle maker NIO has launched a new mass-market brand, Onvo, targeting mainstream family users. The new brand aims to compete with popular models like the Toyota RAV4 and Tesla Model Y, offering a balance in product experience and ownership costs. The first vehicle under the Onvo brand, named L60, is designed to be longer, wider, and roomier than the Tesla Model Y. Onvo, which translates to 'Happy Road' in Chinese, was launched on Wednesday. This launch comes amid a downward trend in pricing for electric vehicles in China.
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Similar markets
Over 100,000 units • 25%
50,000 to 100,000 units • 25%
20,000 to 50,000 units • 25%
Under 20,000 units • 25%
Best Performance • 25%
Better than average • 25%
Average • 25%
Below average • 25%
Highly Positive • 25%
Moderately Positive • 25%
Neutral • 25%
Negative • 25%
Less than 5% • 25%
5% to 10% • 25%
10% to 15% • 25%
More than 15% • 25%
Less than 5% • 25%
5% to 10% • 25%
10% to 20% • 25%
More than 20% • 25%
Less than 10% • 25%
10% to 20% • 25%
20% to 30% • 25%
More than 30% • 25%
High adoption (Above 30%) • 33%
Moderate adoption (15-30%) • 33%
Low adoption (Below 15%) • 34%
Less than 20% • 25%
20% to 30% • 25%
30% to 40% • 25%
More than 40% • 25%
Below 1% • 25%
1% - 3% • 25%
3.1% - 5% • 25%
Above 5% • 25%
