Nio Inc (NIO) Goes After Tesla’s Lunch Again

Nio Inc (NYSE:NIO) is one of the best large cap penny stocks under $10 to buy now. On April 28, Nio Inc (NYSE:NIO) launched its L80 model and immediately opened pre-orders for the car. The L80 is a two-row, 5-seat SUV that runs on battery power like all Nio cars. But the L80 is produced by Nio’s budget-focused sub-brand called Onvo.

In terms of size, the L80 sits between the smaller L60 and the larger three-row L90 model. The L80 shares the platform and most components with the L90, but they differ in seating and cargo capacity.

The L80’s price starts at 245,800 yuan, making it cheaper than Tesla’s Model Y by 17,700 yuan in China. Model Y is the model to beat in the market segment that Nio is targeting with the L80.

The L80 deliveries are scheduled to begin on May 15. The earlier Onvo model launches had a strong debut. For instance, the flagship L60 surpassed 20,000 unit deliveries in the first 100 days. The L90 exceeded 10,000 unit deliveries in the first month.

Nio is expanding its budget model lineup as it also pushes to improve profitability. The company posted its first-ever adjusted operating profit in Q4 2025. Looking ahead, Nio plans to reduce costs and lift its bottom line by producing its own chips. The company’s CEO, William ‌Li, shared this plan in an interview with Reuters on April 24.

Nio Inc (NYSE:NIO) is a Chinese automaker that produces electric cars. Its portfolio includes a variety of sedans and SUVs. In addition to cars, Nio also makes smartphones and other tech products. The company was founded in 2014 and is headquartered in Shanghai.

While we acknowledge the potential of NIO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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