Report: Nio is set to launch in the UK in early 2025 with the new Onvo L60.

Nio is reportedly planning to introduce its new affordable EV brand, Onvo, to Europe next year, starting with the launch of the L60 coupe-SUV in the UK.

As Automotive News Europe reports, Eric Yu, Nio's head of product planning, explained that Onvo will enter the UK first because, unlike the EU, it does not impose import tariffs on Chinese-made EVs. Onvo’s value-driven billing.

Nio's electric vehicles are currently subject to an import tariff of 31% in the EU, up from 10% in 2023.

Similarly affected automakers including BYD, Chery, Mini, Polestar and Volvo are shifting some EV production from China to Europe to avoid tariffs, but Nio is has not announced any plans to produce the car. Acquisition of Audi electric vehicle plant in Belgium.

Nio began selling EVs in Europe in 2021 but is yet to enter the UK, so Onvo's expansion will be the company's first foray into the market.

According to Automotive News Europe, Yu said Onvo's exports to Europe will begin once monthly production reaches 30,000 units, which is expected around March 2025.

It's not yet clear how the car will be sold in the UK. Autocar has reached out to Nio for comment.

News of Onvo's expansion outside China comes just days before Nio unveils the first model of its second new EV brand, Firefly, envisioned as a globally focused premium small EV manufacturer.

However, a European schedule for Firefly has not yet been confirmed.

Nio's existing European lineup is aimed at the premium end of the market, so the company will likely want to build its more value-focused Onvo and Firefly models locally, although import tariffs from the EU will have a less dramatic impact on profitability. , to lower the price.

Onvo's first model, the L60, is a rival crossover to the Tesla Model Y that emphasizes practicality and efficiency. In China it sells for the equivalent of £24,000, but in Europe it's likely to be priced closer to its US rivals at just north of £40,000.

The L60 shows how Onvo will target family buyers in the budget premium segment with a focus on interior space, safety and utility.

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