Chinese EV startup Nio is changing its global strategy with U.S., EU tariffs on the horizon

Chinese EV startup Nio is revising its global strategy in response to potential U.S. and EU tariffs. The company introduced a new, more affordable brand called Onvo, featuring the L60 SUV priced below Tesla's Model Y. Nio aims to adapt by seeking local partnerships for distribution and production, shifting away from its previous direct sales model in Europe. This strategic pivot reflects Nio's response to increasing geopolitical tensions and tariffs that impact the EV market.