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China’s NIO (NYSE: NIO) delivered over 20,000 vehicles in September, its fifth straight month crossing the mark. In just three days, NIO sold 832 Onvo L60 electric SUVs, the first of its new low-cost EV brand.

NIO ignited the industry after officially launching the Onvo L60 last month. Starting at just $21,200, the electric SUV kicks off NIO’s new affordable sub-brand.

The low starting price tag undercuts rivals, including Tesla’s Model Y, which starts at $34,600 (249,900 yuan) in China.

After handing over the first Onvo L60 on September 28, NIO announced it delivered 832 models in just three days.

NIO’s new electric SUV helped it achieve its second-highest monthly delivery total, with 21,181 vehicles delivered in September. The NIO brand delivered 20,349 models, while the Onvo L60 accounted for the remaining 832.

The growth was enough to put NIO over the 20,000-sales threshold for the fifth consecutive month.

It also helped push NIO to a new quarterly delivery record: 61,855 vehicles were handed over in Q3, up 11.6% from last year.

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NIO Onvo L60 electric SUV (Source: Onvo)

NIO delivered 832 Onvo L60 electric SUVs in 3 days

NIO hit its guidance of between 61,000 and 63,000 vehicle deliveries in the third quarter. With L60 deliveries set to accelerate in October, will NIO top its monthly sales record of 21,209 in June?

NIO-Onvo-L60-deliveries
NIO Onvo L60 electric SUV (Source: NIO)

The low $21,200 (149,900 yuan) price is for the battery rental model, which also includes a monthly subscription fee. The fee is $85 (599 yuan) for the 60 kWh battery or $125 (899 yuan) per month for the 85 kWh battery.


NIO Onvo L60 vs Tesla Model Y trims
Range
(CLTC)
Starting Price
NIO Onvo L60 (Battery rental) 555 km (341 mi)
730 km (454 mi)
149,900 yuan ($21,200)
NIO Onvo L60 (60 kWh) 555 km (341 mi) 206,900 yuan ($29,300)
NIO Onvo L60 (85 kWh) 730 km (454 mi) 235,900 yuan ($33,400)
NIO Onvo L60 (150 kWh) +1,000 km (+621 mi) TBD
Tesla Model Y RWD 554 km (344 mi) 249,900 yuan ($34,600)
Tesla Model Y AWD Long Range 688 km (427 mi) 290,900 yuan ($40,300)
Tesla Model Y AWD Performance 615 km (382 mi) 354,900 yuan ($49,100)
NIO Onvo L60 vs Tesla Model Y in China

For the battery pack included, L60 prices start at $26,300 (206,900 yuan), still lower than the Model Y.

At 4,828 mm long x 1,930 mm wide x 1,616 mm tall, the L60 is slightly bigger than Tesla’s Model Y (4,750 mm long x 1,921 mm wide x 1,624 mm tall). However, its longer wheelbase (2,950 mm vs. 2,890 mm) gives way more interior space.

NIO-Onvo-L60-interior
NIO Onvo L60 interior (Source: Onvo)

Inside, the L60 is almost a replica of the Model Y. The 17.3″ infotainment screen is the center of an otherwise minimalistic setup.

NIO’s new Onvo L60 is expected to be a genuine rival to the Model Y and other top-selling electric SUVs in China. The low-cost EV is already earning praise from analysts as NIO looks to enter its next growth phase.

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NIO (NYSE: NIO) stock chart from October 2023 through October 2024 (Source: TradingView)

NIO shares surged Monday following a new $470 million (RMB 3.3 billion) cash investment to fuel its expansion. NIO stock is up 68% over the last month, but share prices are still down 20% over the past 12 months.

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Trump approves U.S. Steel merger with Japan’s Nippon after companies sign national security agreement

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Trump approves U.S. Steel merger with Japan’s Nippon after companies sign national security agreement

US President Donald Trump receives a gold helmet with his name on it during a visit to US Steel – Irvin Works in West Mifflin, Pennsylvania, May 30, 2025, to mark the ‘partnership’ between Nippon Steel and US Steel.

Saul Loeb | AFP | Getty Images

President Donald Trump issued an executive order on Friday approving U.S. Steel’s merger with Japan’s Nippon Steel, after the companies signed a national security agreement with the U.S. government.

U.S. Steel and Nippon said the national security agreement will give the U.S. government a “golden share” and makes certain commitments related to governance, domestic production, and trade. The companies did not elaborate on what powers the U.S. government will wield with its golden share.

“All necessary regulatory approvals for the partnership have now been received, and the partnership is expected to be finalized promptly,” U.S. Steel and Nippon said in a statement.

The national security agreement calls for Nippon to make $11 billion in new investments by 2028, including initial spending on a greenfield project that will be completed after 2028, the companies said.

Trump said Thursday that the golden share gives the president “total control” without elaborating. Pennsylvania Sen. Dave McCormick told CNBC last month that the golden share will effectively allow the government to control a number of board seats.

Trump opposed U.S. Steel‘s controversial sale to Nippon in the runup to the 2024 president election, as Republicans and Democrats have leaned into protecting U.S. companies against foreign competitors.

But Trump started softening his opposition to the takeover after assuming office, ordering a new review of the deal in April. President Joe Biden had blocked U.S. Steel’s sale to Nippon during his final days in office, citing national security concerns, despite Japan being a close ally.

Trump has avoided calling the deal an acquisition or merger, describing it as a “partnership” in a May 23 post on his social media platform Truth Social. He insisted that U.S. Steel will remain “controlled by the USA” during a speech to workers at one of the company’s plants outside Pittsburgh on May 30.

U.S. Steel made clear it would become a “wholly owned subsidiary” of Nippon North America under the terms of the merger agreement in an April 8 filing with the Securities and Exchange Commission. Trump’s description of the deal as a “partnership” caused confusion among investors and union leadership.

The president told U.S. Steel workers that Nippon will be a “great partner.” The Trump administration is currently engaged in trade talks with Japan as investors eagerly await signs that the U.S. will strike deals with key partners that avoid steep tariffs.

Trump told the steelworkers that Nippon had agreed to keep U.S. Steel’s blast furnaces operating at full capacity for a minimum of 10 years. The president said the deal would not result in layoffs and promised there would be “no outsourcing whatsoever.” He said workers will receive a $5,000 bonus.

Trump announced that he was doubling U.S. tariffs on steel imports to 50% during his remarks to U.S. Steel workers. Those tariffs went into effect on June 4.

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This new EV charging feature could make apps and cards obsolete

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This new EV charging feature could make apps and cards obsolete

European EV charging provider Allego has launched what is says is Europe’s first rollout of the “world’s safest and most secure” Plug & Charge technology. 

The new tech is based on the open industry standard OCPP 2.0.1 and promises to make EV charging as easy as, well, plugging in your car. Forget apps, cards, and complicated sign-ins. If your EV is compatible, all you have to do is pull up and plug in.

Jean Gadrat, Allego’s CMO, said, “By removing digital friction points, apps, and cards, we give drivers the confidence to travel further and charge more conveniently. Whether in the city, on the highway, or abroad, Plug & Charge delivers the same secure, one-step charging experience.”

Here’s how Allego’s Plug & Charge works

Plug & Charge is an ISO 15118-based authentication and payment method built by Allego on OCPP 2.0.1, standardizing communication between OCPP-compliant chargers and networks.

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Once your car is enabled for Plug & Charge, the process is completely hands-off. You plug in, and your EV and the charger swap secure digital certificates to authenticate your account. There’s no need to tap an RFID card, open an app, or even press a button.

Allego’s system supports Mutual TLS encryption and certificate-based authentication, so only authorized vehicles can charge. That means no billing mistakes or fraudulent access, which has been a big concern with some older public charging setups.

Available across Europe now

Allego’s Plug & Charge functionality is at more than 5,000 fast and ultra-fast chargers across Europe, and it also works across partner networks, deploying a truly cross-network Plug & Charge experience.

It’s a future-ready platform, too. Thanks to OCPP 2.0.1, the protocol supports remote firmware updates, advanced security, and new features as they become available. So your charger can grow along with your EV.

“As new vehicle models and charging technologies emerge, OCPP 2.0.1 ensures your car always ‘speaks the same language’ as the charger,” said Manuel Trotta, Allego’s head of mobility solutions.

Allego partnered with Alpitronic, Hubject, and Ford to bring its cross-network Plug & Charge to life.

Read more: Waffle House is getting DC fast chargers – and it’s a genius move


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The Kia PV5 is a real-life Transformer: Here’s our first look at it as an electric truck

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The Kia PV5 is a real-life Transformer: Here's our first look at it as an electric truck

Kia is looking to shake things up with its new custom-tailored Platform Beyond Vehicles (PBVs). The PV5, Kia’s first electric van based on the platform, is already showing how versatile it is. After the PV5 was spotted for the first time with an open bed, Kia looks about ready to drop an electric truck variant.

Is Kia launching an electric truck PV5 variant?

At the 2024 Consumer Electronics Show (CES), Kia revealed its PBV strategy for the first time. The vehicles are designed as “total mobility solutions” that combine fit-for-purpose EVs with Hyundai’s latest software and tech.

Kia’s PBVs are based on Hyundai’s new ultra-flexible E-GMP.S EV platform, which can be custom-tailored for different uses. The first EV based on the platform, the PV5, launched earlier this year in the UK in two variations, Cargo and Passenger.

The Passenger model is fairly self-explanatory as a personal, everyday van, while the Cargo version is designed for commercial use.

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Kia said more variants were on the way, including a refrigerated truck, chassis cab, open-bed, luxury “Prime” passenger, and sliding truck models.

The open-bed variant was recently captured driving in Korea, giving us our first look at the Kia PV5 as an electric truck.

Kia-PV5-electric-truck
Kia PV5 open bed teaser (Source: Kia)

Although brief, the video from HealerTV, taken as the vehicle was driving by, reveals a few new details. It’s our closest look at the open-bed variant so far.

Like other PV5 variants, it appears to be the same up front. In fact, it’s almost identical to the first teaser Kia showed.

Kia PV5 open bed electric truck (Source: HealerTV)

It’s hard to tell from a video, but the reporter mentioned the electric truck “seemed like it was just the right size.” Since the PV5 Passenger is 4,695 mm in length, 1,895 mm in width, and 1,899 mm in height, we can expect it to be about the same size. To give you a better idea, it’s slightly smaller than the Volkswagen ID.Buzz SWB.

More variants on the way

The electric truck, or open-bed variant, comes after we saw the PV5 “Conversion,” which will feature new models, including a light camper and a camper van.

We got a preview of the camper van after Kia revealed two new “Spielraum” PV5 concepts, including one with a refrigerator, microwave oven, and even a wine cellar. And then we got a look at the PV5 “WKNDR,” an “adventure-ready” electric van concept. Kia’s electric van even has a wheelchair-friendly version, the PV5 WAV.

Kia-electric-camper-van
Kia PV5 Spielraum concept (Source: Kia)

What’s next? Kia plans to launch a full range of electric vans. Next up will be the larger PV7 in 2027, followed by the PV9 in 2029. There’s also a smaller PV1, expected to arrive in late 2026 or early 2027.

In the future, Kia plans ot launch a Robotaxi model through a collaboration with Motional. All PBV models will be built at Kia’s Hwaseong EVO plant in South Korea. The facility can build up to 150,000 vehicles annually.

Kia-PV5-electric-truck
Kia PBV models (Source: Kia)

Kia said its goal is to “design PBVs that are simple and intuitive to operate and engage with, regardless of where, when or how they are used.” In other words, Kia wants to make your life easier, “Whether the purpose of the vehicle is to transport people, move goods, or meet logistics or personal mobility needs.”

In the UK, the PV5 Passenger and Cargo models start at £32,995 ($44,000) and £27,645 ($37,000), respectively.

It’s available with two battery pack options: 51.5 kWh or 71.2 kWh, offering WLTP ranges of 179 miles and 249 miles, respectively. The Cargo version gets slightly more range with 181 miles or 247 miles, respectively.

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