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Thanks to leaks by netizens of Onvo brand information we now know a lot more about Nio’s mass-market brand. The first model the L60 is designed to compete with the Tesla Model Y. Together with battery information we now know some of the other key specifications.
Yesterday Nio CEO William Li together with Alan Ai (Ai Tiecheng), president of Onvo, gave a press conference where they talked frankly about the Onvo brand and its position relative to Nio along with plans for the two brands. One Easter egg revealed is that Onvo’s second model would be a larger SUV seating six or seven people.
State-owned First Automobile Works (FAW) will join Nio’s battery swap alliance as its 7th memeber, local media reports. FAW is the owner of the Hongqi brand, which recently revealed a version of its Hongqi EHS7 SUV with battery swap support as it applied for market homologation in China.
Nio’s mass-market brand Onvo plans to sell its first EV, the L60 mid-size SUV, about 50,000 yuan (6,900 USD) cheaper than with a buyout battery, sources familiar with the matter told CarNewsChina. Onvo L60 with a BaaS (battery-as-a-service) subscription would start at 169,00 yuan (23,400 USD).
Nio launched its mass-market brand Onvo on May 15 and unveiled its first car, an electric mid-size SUV called Onvo L60. Nio revealed some details, like range and dimensions, but many key specs, like powertrain info or battery details, were left in the dark and will be revealed later.
SHANGHAI — Chinese electric vehicle maker Nio on Wednesday launched the first vehicle in its new lower-priced brand Onvo which aims to compete there with Tesla's Model Y, the world's best-selling EV.
Chinese EV manufacturer Nio has decided that it needs a value-oriented subbrand, and the first model introduced by it, the Onvo L60, may cause Tesla to fret. Unveiled today, the model will cost considerably less than the Model Y, and will be more energy efficient than the American EV, too.Pre-orders for the L60 opened today (with deliveries starting in the third-quarter of the year) and prices start at RMB 219,900 (around US$30,500 at current exchange rates).
The article is being updated with details.
Nio, the Chinese electric vehicle manufacturer, achieved a significant milestone on May 9th as it produced its 500,000th car. The occasion was celebrated at the Xinqiao Intelligent Electric Vehicle Industrial Park in Hefei, capital of the Anhui province. Various dignitaries, many government and industry leaders, and William Li, the Founder and CEO of Nio, attended the event. Liu Qingfeng, the Chairman of iFlytek Co. and the user of the 500,000th Nio vehicle delivered a speech.