Written by Cláudio Afonso | LinkedIn | X
Nio’s family-oriented sub-brand, Onvo, announced on Friday that customers who place a deposit for the Onvo L60 can take advantage of a limited-time special financing plan, offering a minimum 30% down payment and 0% interest for five years.
The offer runs until March 31 as the company aims to reach the 20,000 unit target announced late last year. Onvo successfully reached its target of 10,000 vehicles for December but failed to increase monthly figures to 16,000 in January.
The Limited-time 5-year 0% interest financing plan is worth 18,755 yuan ($2,600), while the other offers of 3 years of free NOA (Navigate on Autopilot) usage is worth ¥11,520 ($1,600), 24 battery swap vouchers is worth 1,620 yuan ($220).
Onvo is also offering a ¥3,000 ($410) discount each for vehicle color customization and wheel customization.
The company stated that customers using its Battery-as-a-Service (BaaS) feature will have the option — from tomorrow onwards — to upgrade from a 60kWh to an 85kWh battery on a daily, monthly, or annual basis.
“Onvo’s 85kWh long-range battery flexible upgrade service will be gradually launched nationwide starting March 1!” Onvo stated.
The upgrade will “first be trialed in 16 key cities” as the company equips more battery swap stations with 85kWh batteries throughout the next two weeks. Nationwide availability is planned for “mid-March,” the company stated.
For customers ordering an L60 before midnight, Onvo is offering five battery upgrade vouchers (worth ¥45 each) to the ones renting the smaller battery of 60kWh while the customers who opt for the larger battery (85kWh) will receive four battery swap vouchers.
Onvo recorded 1,400 insurance registrations in China last week, up from 900 the previous week, data from rival automaker Li Auto showed earlier this week
Monthly Deliveries
Onvo delivered 5,912 vehicles in January, well below its production capacity target of 16,000 units for the month. The company met its December target of 10,000 units and now aims to reach 20,000 in March.
While neither Tesla nor Onvo discloses their order backlog, Nio’s sub-brand is expected to face strong competition from Tesla’s refreshed Model Y. Domestic rivals include SUVs from Xiaomi, Zeekr, and Exeed.
Onvo L90
Onvo is preparing to expand its lineup with two new SUVs this year, the first of which will be named the L90, brand chief Alan Ai said in a livestream last week.
Earlier this week, the company revealed the first official image of its upcoming flagship SUV.
“The flagship SUV with a spacious interior for big families, the Onvo L90, offers both charging and battery swapping—providing a better experience than refueling and a superior pure electric performance,” the company wrote on Weibo.
The L90 will be Onvo’s flagship model, will feature a three-row layout targeting larger families. The SUV is set to debut in the second quarter, with sales slated to begin in the third quarter.
