On May 13, Chinese EV company Nio (NYSE:NIO) stock popped as the company announced the launch of its lower-priced brand, Onvo, on May 15. The first model, the L60, a “family-centric” crossover priced at around $34,600, will compete with Tesla’s (NASDAQ:TSLA) Model Y. Nio sells upscale EV models in Europe, but it’s still being determined if the L60 or other Onvo models will be available outside China. The company will announce its Q1 2024 earnings before May end or June starts. 500,000 Production Milestone a ...