NIO will launch a third brand in a year, and Letao’s independent listing is not in the plan

According to news on May 16, last night, Weilai officially launched a new brand ONVO. The name of the brand means "family happiness and housekeeping" and is clearly aimed at the family market.

The release of the Ledao brand marks the official launch of NIO’s layout in the home market. Qin Lihong, co-founder and president of NIO, said frankly at the press conference that Ledo and NIO already have mutual synergies in terms of brand positioning and have their own unique market segments. He revealed that NIO is expected to launch a third brand in the next year or so to further meet the diversified needs of the market.

According to the editor’s understanding, Li Bin, chairman and CEO of NIO, made it clear at the media communication meeting of the Ledo brand that Ledo’s R&D, marketing and other related expenses have been included in NIO’s overall budget. And there are currently no plans to list Letao separately.

#The latest released Ledo L60 model is now open for pre-order, with a starting price of 219,900 yuan. Li Bin emphasized that this price strategy still guarantees a good profit margin, and Weilai will not make a business decision of selling one car at a loss.

He explained that NIO’s strategy of starting from the high-end market is based on multiple considerations, including the lag in the transformation of luxury brands in electrification, and the fact that high-end products are more conducive to forward research and development. The launch of the Ledao brand is to serve a wider user group and realize the company's vision and overall plan.

When talking about the multi-brand layout, Li Bin pointed out that starting from the high-end market is because traditional luxury brands like BBA are slow in electrification transformation, providing market opportunities for Weilai. But he also admitted that the scale of the high-end market is limited and that to achieve economies of scale, it must enter the mass market. He believes that although Tesla started from the high-end market, it is unreasonable to try to cover both high-end and mass markets under the same brand, because the price range that a single brand can cover is limited.

Ledo brand president Ai Tiecheng said in the interview that there are differences in the user groups between Ledo and NIO, and Ledo is more focused on serving home users. In terms of sales strategy, Ledao plans to expand channels through cooperation with many partners, but will adhere to the direct management model to achieve effective communication of the brand concept.

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