Nio's Onvo brand hits a significant milestone with the production of its 100,000th vehicle, a testament to its rapid growth and market acceptance. This achievement comes as Onvo prepares to deliver its 9,721st vehicles this month, bringing its total deliveries to an impressive 90,279 since its inception. The brand's success is particularly notable given its recent entry into the mass market, a strategic shift from its premium focus with the main Nio brand. Onvo's L60 and L90 models have been key to this success, with the L60 delivering 4,249 units in September and the L90 achieving 10,997 deliveries during the same period. The L60, a five-seat SUV, was launched on September 19, 2024, and is priced at RMB 206,900, while the L90, offering six-seat and seven-seat configurations, starts at RMB 265,800. Onvo's strategic use of the BaaS (Battery as a Service) model, where battery rental fees begin at RMB 599 per month, has been a significant factor in making its vehicles more accessible and affordable. This approach, combined with continuous enhancements in energy efficiency, range, and smart cockpit features, has contributed to Onvo's growing popularity and its ability to compete with established brands like Tesla. The brand's recent launch of the updated L60, with unchanged pricing, further solidifies its commitment to providing value and innovation to its customers.
