Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China.CNBC | Evelyn ChengBEIJING — Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing their global footprint.The nearly 10-year-old company will also start shipping its lowest-cost brand, Firefly, in the first half of next year, Li said.Nio, which recently received funding from Mid ...