NIO Launches Pre-sale for Onvo L90 SUV at Competitive $27,000 Price Point
Chinese electric vehicle manufacturer NIO has initiated pre-sales for its new Onvo L90, a three-row sports utility vehicle designed to compete directly with rivals like Li Auto and Aito. The L90 is priced aggressively at RMB 193,900 ($27,052) under the Battery-as-a-Service (BaaS) subscription model, or RMB 279,900 ($39,050) with battery ownership. This launch is critical for NIO’s financial health, aiming to offset previous delivery shortfalls of the Onvo L60 and counter slowing demand for its luxury brand. The 5.2-meter SUV features a revolutionary spatial layout, offering over one meter of legroom per row and a class-leading 670-liter boot capacity with all seats in use. It also boasts a 240L frunk, the largest in the Chinese market. The single-motor version provides a range of 605 kilometers via an 85 kWh battery. Deliveries are scheduled to begin on August 1, with the vehicle targeting price-sensitive households as a primary growth driver. Following the announcement, NIO’s shares rose 6.2% on the Hong Kong Stock Exchange, reflecting investor confidence in this strategic move to capture mainstream market share.
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NIO Launches Pre-sale for Onvo L90 SUV at Competitive $27,000 Price Point
Chinese electric vehicle manufacturer NIO has initiated pre-sales for its new Onvo L90, a three-row sports utility vehicle designed to compete directly with rivals like Li Auto and Aito. The L90 is priced aggressively at RMB 193,900 ($27,052) under the Battery-as-a-Service (BaaS) subscription model, or RMB 279,900 ($39,050) with battery ownership. This launch is critical for NIO’s financial health, aiming to offset previous delivery shortfalls of the Onvo L60 and counter slowing demand for its luxury brand. The 5.2-meter SUV features a revolutionary spatial layout, offering over one meter of legroom per row and a class-leading 670-liter boot capacity with all seats in use. It also boasts a 240L frunk, the largest in the Chinese market. The single-motor version provides a range of 605 kilometers via an 85 kWh battery. Deliveries are scheduled to begin on August 1, with the vehicle targeting price-sensitive households as a primary growth driver. Following the announcement, NIO’s shares rose 6.2% on the Hong Kong Stock Exchange, reflecting investor confidence in this strategic move to capture mainstream market share.
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