Nio subsidiary Onvo to launch large SUV ‘L90’
Onvo President Alan Ai revealed the name of the model and some details about it in a live video stream with Charles Zhang, founder of the Chinese news portal Sohu.
The L90 is set to become Onvo’s flagship model. It will have a three-row seating arrangement and be a large SUV (Sport Utility Vehicle) for large families, said Alan Ai in the livestream.
Nio launched the Onvo brand and its first model L60 in May 2024 on the International Day of Families, which was intended to underline the focus on family-friendly electric cars. The L60 is a mid-size SUV that Nio contrasts with the Tesla Model Y and whose silhouette is very reminiscent of the Model Y. The first customer deliveries of the model, which is available in China from 206,900 yuan (around 26,000 euros) including battery, took place at the end of September.
There had recently been some speculation that the second Onvo model would be called the L80, but the final name has now been confirmed as L90. The day after the market launch of the L60, Nio founder William Li told the media that Onvo would launch a medium to large SUV on the market in 2025. The new model will be a revolutionary product that will surprise and be delivered in Q3 2025, Li said at the time.
Onvo delivered 5,912 vehicles of the L60 model in January, bringing the total number of deliveries to 26,673 since September last year. This year is to play a major role in Nio’s business strategy as well: the Chinese EV manufacturer aims to finally become profitable in 2025, about two years after the company had initially planned. To achieve this, Nio stated that it intends to utilise two levers in particular: Nio remains determined to enter 25 overseas markets by next year, focussing mainly on the Onvo and Firefly brands.
In addition, Nio aims to run its own price strategy, and “refrain from engaging in price wars,” which means the company is taking aim for a more luxurious segment. Particularly as tariffs are being put in place in Europe and the USA, prices will likely go up, as CEO William Li told analysts in December: “Nio will be forced to increase prices close to those of Porsche’s in response to new, higher tariffs imposed by the European Union on China-built EVs.”
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