HomeFinance NewsFinanceElectric car titans Nio and Xpeng conquer new territory, targeting the everyday...

Electric car titans Nio and Xpeng conquer new territory, targeting the everyday driver!


Chinese EV start-ups Nio and Xpeng turn to the mass market for growth


Chinese electric car companies Nio and Xpeng are expanding into a more affordable market segment.

Nio is introducing an SUV priced lower than Tesla’s Model Y, launching a new brand called Onvo.

Xpeng is also launching a sub-brand named Mona, offering cars for less than $20,700.

These moves align with the competitive landscape in China’s electric car market, where local rival BYD and Volkswagen have strong market positions in the lower-priced segment.

Nio’s Onvo brand targets families with its name meaning “happy family time.”

Despite introducing a lower-priced brand, Nio anticipates continued price volatility in the market.

Xpeng’s Mona brand focuses on cost control and technology, bringing advanced features to a wider audience.

The company believes in differentiating technology offerings between its mass market and premium brands.

Tesla’s Model Y remains popular in China’s electric SUV market, but Nio’s new SUV aims to undercut its price while offering similar features.

BYD, known for its dominance in the mass market, offers a wide range of cars within different price segments.

With plans for a new hybrid model between $17,000 and $20,700, BYD remains a strong competitor in the lower end.

  • Overall sentiment: positive
  • Positive

    “Nio’s first such mass market car will be an SUV cheaper than Tesla’s Model Y”

    “Tesla’s comparable full self drive software isn’t yet available in the country.”


    “The Tesla SUV starts at 249,900 yuan ($35,197) in China.”

    “Gu said the new cars would sell for less than 150,000 yuan ($20,700).”

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