NIO Inc. (NYSE:NIO) shares are trading higher on Thursday.

According to Benzinga Pro, NIO stock has lost over 63% in the past year. Investors can gain exposure to the stock via KraneShares MSCI China Clean Technology Index ETF (NYSE:KGRN) and KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:KARS).

The head of Onvo, a sub-brand of NIO, reportedly stated that the launch date for the brand's first model, the L60, will be in late September, contrary to an earlier media report mentioning September 10th.

Onvo's president, Ai Tiecheng, announced in a live video stream today that the L60 will be launched in late September, along with pricing details, reported CnEV Post.

Also Read: NIO Advances Vehicle Safety With AI-Enhanced Automatic Emergency Braking And Navigation Features In Latest Update

Tiecheng stated that customers can test drive the Onvo L60 on its launch day, with deliveries starting approximately a week later, by the end of September.

During the live streaming, Tiecheng mentioned that Onvo has not yet revealed the interior details of the L60 and plans to do so at a later event within a month.

Nio launched the Onvo brand on May 15, codenamed Alps, targeting the mass market. It also has another sub-brand, codenamed Firefly, aimed at the lower-priced segment of the electric vehicle market.

Price Action: NIO shares are trading higher by 1.63% to $4.37 at last check Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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