A leaked supply chain tracking document circulating on Chinese social media points to an Onvo L50 as the next model under Nio Inc.’s mass-market sub-brand.
The document, which was first shared by known automotive blogger ‘SugarDesign’ on Weibo, lists two projects under Nio: one labelled under Firefly, and another designated “Qinling Onvo L50.”
Both carry a project status of “nominated” (‘定点’), a supply chain term indicating that component suppliers have been selected for the project — a stage that signals development has progressed beyond early concept work.
‘SugarDesign’ wrote on Weibo that the L50 is “very likely to be a sedan.”
Onvo’s Current Lineup
Onvo‘s existing lineup consists entirely of SUVs: the L60, a midsize five-seater launched in September 2024; the L90, a three-row six- and seven-seat model that followed in August 2025; and the L80, a five-seat derivative of the L90 that began deliveries in May 2026.
Under the brand’s naming convention, the number loosely tracks vehicle size and positioning.
An L50 would sit below the L60, making it the smallest and likely most affordable vehicle in the Onvo range.
“Qinling” — a reference to the Qinling Mountains, a major east-west range in central China — follows the brand’s practice of using Chinese geographic features as internal codenames.
A sedan would also mark a departure from Onvo’s SUV-only strategy.
Chinese outlet LatePost reported in March that the brand had resumed development of two new models — a sedan and an SUV — in the 200,000-yuan ($29,700) price segment.
Both had been shelved in early 2025 during Nio’s internal restructuring but were revived after the L90’s launch showed the platform could support multiple body styles.
Earnings Call Signals
Nio founder and CEO William Li provided a broad outline of the company’s 2027 product plans during Tuesday’s second-quarter earnings call.
On Onvo, Li told analysts the brand would introduce “a major strategic new product” next year to “enrich our existing product lineup.”
He did not name the model or body style.
Morgan Stanley analyst Tim Hsiao had asked Li about the Onvo brand’s trajectory, noting its momentum had been “routinely moderated” since launch.
Nio has acknowledged the shortfall publicly. President Qin Lihong said on Wednesday in Macau that the brand “still hasn’t done well enough.”
The leaked L50 record further aligns with Nio’s earlier statements.
In February, Morgan Stanley reported after a meeting with Li that the company planned two to three further Onvo models in the 150,000-to-200,000-yuan ($22,300 to $29,700) price segment, targeting 8% to 10% market share.
A sedan priced below the L60’s current starting price of 192,800 yuan ($28,700) would position Onvo in one of the most contested segments of the Chinese market, where BYD, XPeng and dozens of domestic brands compete for volume buyers.
Onvo’s Volume Problem
New products carry added urgency given Onvo’s recent sales decline.
The brand delivered 8,810 vehicles in August, down 46.4% from a year earlier and 13.2% below July — a third consecutive monthly fall.
Onvo’s share of Nio Inc.’s monthly total dropped to 24.6%, less than half the 55% long-term target Li has set for the brand.
Nio Inc. as a group delivered 35,836 vehicles in August, up 14.5% year on year.
The Nio premium brand drove the growth with 21,174 units, more than doubling year on year, while Firefly added 5,852.
No new Onvo models are scheduled for the remaining four months of 2026.
The brand’s three existing SUVs must carry the period while Nio Inc. needs between 48,277 and 56,527 vehicles a month across September through December to meet Li’s full-year delivery target.
August’s group total of 35,836 sits well below that range.
Firefly Entry
The same supply chain document lists a separate Firefly project at the supplier-nomination stage.
The entry appears to contradict Li’s remarks on Tuesday’s call, where the CEO said the brand would maintain its single-model strategy and keep “rolling out special editions and also technology upgrades.”
Li likened the approach to Apple’s iPhone — keeping the same product while introducing iterative improvements.
Supply chain nominations for a Firefly project could reflect preparations for a next-generation version of the existing hatchback rather than a second model, consistent with the upgrade cycle Li described.
The leaked document does not specify whether the entry refers to a new generation or a distinct vehicle.
Firefly delivered 5,852 vehicles in August, bringing cumulative deliveries to 80,209 since the brand’s debut in April 2025.
Brand chief Daniel Jin has said the brand aims to reach 100,000 cumulative units by year-end.
