On November 1, TOPEV noted that China Business News reported NIO's third brand will adopt hybrid power, with the product expected to officially launch in 2026. Additionally, it was previously reported that Xpeng Motors will introduce an extended-range model, a large SUV internally codenamed G01, currently under full development and projected for mass production in the second half of 2025.
Currently, NIO has two main brands, NIO and ONVO. The first model under the second brand, Ledao, the ONVO L60, has already launched. Tie Cheng, president of ONVO Automotive, stated that the L60 aims to achieve sales of over 10,000 units in its third month on the market and over 20,000 units by the sixth month. The L60's features are impressive: it has a body length of 4828mm, a wheelbase of 2950mm, and accelerates from 0 to 100 km/h in just 5.9 seconds for the rear-wheel-drive version, while the four-wheel-drive version reaches 100 km/h in only 4.6 seconds. Additionally, the L60 offers two battery pack options, 60kWh and 85kWh, with a CLTC pure electric range of up to 730km.
Earlier, NIO co-founder and president Qin Lihong announced at the National Partner Conference that the Firefly brand will be officially unveiled at NIO Day on December 21, 2024. The Firefly brand will not only be displayed and sold in NIO showrooms but will also share NIO's services and battery-swapping system. Reports indicate that the new Firefly model will feature a purely visual solution, support high-speed NOA and L2+ assisted driving, and is expected to start at a price of $14,000 .