Asia Tech Wire (May 17) -- Chinese electric vehicle maker Nio Inc.'s boss will not consider listing its new brand ONVO independently in the future.

William Li, Nio's chairman and CEO, said at an event Thursday that currently Nio's input costs include funds for ONVO's research and development, marketing and other expenses.

He emphasized that he will not consider listing ONVO separately in the future.

Nio officially launched its long-awaited second brand under the name ONVO on Wednesday.

Along with the brand launch, the company also brought the new brand's first car, the ONVO L60, and announced a pre-sale price starting at 219,900 yuan ($30,466).

(US$1 = 7.2179 yuan)