Written by Cláudio Afonso | LinkedIn | X
Electric vehicle (EV) manufacturer Nio commenced on Thursday production of the L60, the inaugural model under its new sub-brand, Onvo. The first batch rolled off the assembly line at Nio’s Hefei plant, marking a significant milestone in the company’s expansion into the family SUV market.
Over the last few hours, several pictures have been shared on the Chinese social media platform Weibo showing several cars rolling off the assembly line.
Positioned to compete directly with Tesla’s Model Y, the L60 comes with a pre-order price starting 10% lower than its rival, the world’s best-selling model.
As reported by EV on August 7, the official launch event for the Onvo L60 is scheduled for September 19 in Hefei, Anhui province. The pricing details will be unveiled at the event.
The journey from Nio’s first sub-brand began on March 17, 2021, with the launch of its ALPS business, the codename for the sub-brand project. The development of the L60, internally known as the DOM project, kicked off on October 8, 2021. A year later, Nio confirmed that Onvo would follow the direct sales model, similar to its parent brand.
The L60 design was finalized on April 13, 2023, with the Blanc project starting shortly after on May 10, 2023. The vehicle’s prototype, the L60 VB, rolled off the production line on October 26, 2023, and the first sales store contract was signed on November 5, 2023.
The Onvo brand officially launched earlier this year on May 15, and the first mass-produced L60 was completed today, August 15.
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Onvo’s president, Alan Ai, has recently confirmed that vehicle deliveries will begin one week after the launch. Based on the event date, the delivery ceremony of the first units is expected to take place around September 26.
In late May, Ai announced that the brand is developing six-seat and seven-seat models aimed at larger families.
After unveiling the exterior of its first model, the L60, in mid-May, Onvo will reveal the full pricing details at the event. This includes prices for purchasing the car with and without Nio’s battery subscription plan while the interior will be revealed later this month.
The pre-sale price of theL60 stands at 219,900 RMB, equivalent to $30,621 with the battery included.
The standard-range variant of the Onvo L60 will feature a 60.6 kWh battery pack with a CLTC range of 501 to 555 kilometers, as per a catalog released in early July by China’s Ministry of Industry and Information Technology (MIIT).
In mid-June, a regulatory filing revealed the Onvo L60’s core specifications, showing that the model will use lithium iron phosphate batteries supplied by BYD’s battery firm, FinDreams Battery.
Onvo has recently published in its app in China a Q&A to address questions from reservation holders for the new model.
“Nio’s distinctive one-click maintenance, door-to-door tire repair, and vehicle pickup and delivery services will also serve Onvo users. The Onvo service package is more lightweight compared to Nio’s service package,” the company explained.
Details regarding the pricing and policies for Onvo’s service package will be announced at the launch event on September 19.
By the end of 2024, Nio expects to have over 350 service centers in 200 cities nationwide capable of maintaining Onvo vehicles. The company also plans to open dedicated Onvo service centers based on user demand.
The pricing for the battery as a service (BaaS) version will be only announced at the event in late September.
William Li, CEO of the Nio Group, has recently anticipated direct competition between Onvo and Li Auto, a Chinese new energy vehicle (NEV) maker which is preparing to launch its second fully electric model in the first half of 2025.
“Both Onvo and Beijing-based Li Auto target the personal use auto market and their prices overlap. I believe there will definitely be competition between the pair,” the chief executive said.
Written by Cláudio Afonso | LinkedIn | X
