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Nio to unveil Onvo L60 to launch mass-market EV sub-brand
- Nio is set to unveil a new model, the L60, under its mass-market brand called Onvo.
- The company also plans to launch a smaller EV targeting a sub-$30,000 price range next year.
- Nio aims to sell the smaller EV in Europe under a separate sub-brand.
- Both the Onvo and the upcoming sub-brand will focus on the European market.
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