Nio will reportedly carry its new reasonably priced EV model Onvo to Europe subsequent yr, beginning with the launch of the L60 coupé SUV within the UK.

As reported by Automotive Information EuropeNio’s product planning boss Eric Yu defined that Onvo would come to the UK first as a result of, in contrast to the EU, it doesn’t place import tariffs on Chinese language-built EVs – which might have been a key motivator, given Onvo’s value- centered billing.

Nio’s EVs are at present topic to an import tariff of 31% within the EU, up from 10% in 2023.

Automotive producers together with BYD, Chery, Mini, Polestar have had the identical impression and Volvo is transferring manufacturing of some EVs from China to Europe to keep away from the tariffs, however Nio has introduced no plans to construct vehicles in Europe after passing up the prospect to purchase Audi’s EV manufacturing facility in Belgium to take over.

Nio began promoting EVs in Europe in 2021 however has but to make its solution to the UK, so the Onvo enlargement would be the firm’s first foray into the market.

Per Automotive Information Europe, Yu mentioned that Onvo exports to Europe will start when manufacturing reaches 30,000 items per 30 days, which is predicted to be round March 2025.

It’s not but clear how the vehicles will likely be offered within the UK; Autocar has approached Nio for remark.

Information of Onvo’s enlargement exterior of China comes simply days earlier than Nio is about to unveil the primary mannequin of its second new EV model, Firefly, which is billed as a maker of premium small EVs with a worldwide focus.

Nonetheless, it has but to substantiate European timelines for Firefly.

Nio’s present European vary is aimed on the premium finish of the market, so EU import tariffs have a much less dramatic impression on profitability, however it’s seemingly that the agency will localize its extra value-focused Onvo and Firefly fashions. wish to construct, to maintain the costs low.

The L60, Onvo’s first mannequin, is a Tesla Mannequin Y-rival crossover that focuses on practicality and effectivity. It retails for the equal of £24,000 in China, however is prone to be priced nearer to its American rival at simply north of £40,000 in Europe.

The L60 reveals how Onvo will goal household consumers within the decrease premium section, with an overt give attention to inside area, security and utility.