Written by Cláudio Afonso | [email protected] | LinkedIn | X
While celebrating the 500,000th car rolling off the production line in Hefei, China, Nio CEO shared on the Nio App that the first sub-brand Onvo will be unveiled on May 15.
“At the same time, in order to better achieve our mission of promoting sustainable development for the future of humanity, we will also serve a wider range of users through a brand new service. On International Family Day, May 15, we will officially launch the second brand, Onvo (LeDao in Chinese),” Nio CEO wrote.
In terms of the target, William Li reiterated that Onvo brand will target families adding that the cheaper average selling price of the models will “undoubtedly accelerate the arrival of the next milestone of one million vehicles”.
“The Onvo brand focuses on the family car market, symbolizing “family happiness, managing the household well.” The launch of the Onvo brand will undoubtedly accelerate the arrival of the next milestone of one million vehicles,” he added.
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At the Beijing Auto Show, Nio CEO was questioned at the Beijing Auto Show about the impact of the SU7 in the sales of the L60, Onvo‘s first model.
“Onvo‘s positioning is clear, it’s aimed at the family market. While Xiaomi’s SU7 is expected to perform well, our Onvo L60 will have better sales,” Nio CEO stated as reported by local media.
According to the chief executive, the first product will be launched in the third quarter with mass deliveries beginning in the last quarter of the year. William Li has previously stated that the model is targeting Tesla Model Y while having a bill of materials (BOM) ten percent lower.
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According to a transcript of a media Q&A shared by the automotive blogger “钢炮同学啊“, Nio partners Changan and Geely will use the same battery pack as Onvo.
“Changan and Geely will share Onvo‘s battery pack, which Lotus doesn’t use. In the future, there will be an exclusive network for Nio users. Onvo‘s battery swapping stations are also being deployed,” Nio founder said.
Nio unveiled the new facelift of its sedan ET7 during the Beijing Auto Show featuring upgraded seats and two second-row screens. The deliveries of the revamped model started on the last day of April.
Written by Cláudio Afonso | [email protected] | LinkedIn | X
