SHANGHAI, May 16 (Reuters) - Chinese electric vehicle maker Nio said on Thursday it will launch one new car model per year under the Onvo brand and will have a second model targeting larger families coming up next. Nio executives were speaking a day after the company unveiled the Onvo L60 SUV with a sticker price starting from 219,900 yuan ($30,476), 12% below the price of Tesla's Model Y which starts at 249,900 yuan in China.

(Reporting by Zhang Yan and Miyoung Kim; Editing by Anne Marie Roantree and)