Updated L60 SUV from Nio Onvo set for delivery next month
Following the successful launch of the Onvo brand by Nio Inc (NYSE: NIO) on May 15, 2024, the company has announced the availability of the updated L60 SUV in over 100 cities across China. The updated model is now available for locked-in orders, with deliveries expected to commence in mid-to-late October.
The updated L60 comes with several optimizations in energy efficiency, cabin, and comfort. The starting price remains competitive at RMB 206,900 ($29,080), making it an attractive option for those seeking an affordable electric vehicle.
Onvo's commitment to providing a seamless driving experience is evident in the 5-year free NOA (Navigation on Autopilot) software usage offered with the updated L60. This feature, along with the SUV's optimized energy efficiency, promises to enhance the driving experience for Onvo customers.
The popularity of Onvo's L90 model has led to production capacity constraints for Nio. In August, Onvo delivered a record 16,434 vehicles, including 10,575 L90s and 5,859 L60s. The L60 competes with models like Tesla's Model Y, offering a viable alternative for consumers.
In addition to the updated L60, Onvo also launched its second model, the L90, on July 31, 2024. The company has selected the city of Bochum to display the first models of the updated L60 immediately.
For those interested in battery as a service (BaaS), the starting fee is RMB 599 per month. Onvo also offers a 3-year zero-interest financing plan for the updated L60, making it more accessible for a wider audience.
Existing L60 owners can also benefit from the updates, as they will receive OTA (Over-the-Air) updates for enhanced energy efficiency, range, and smart cockpit experience.
Nio has reported receiving about 100,000 cancellable orders for its ES8 model, according to Deutsche Bank. The success of Onvo's L60 and the upcoming L90 suggests a bright future for the sub-brand.
In conclusion, the updated L60 offers an attractive package of features, affordability, and performance, positioning Onvo as a strong competitor in the electric vehicle market. With the expansion of its presence across China and the launch of new models, Onvo is set to continue its growth in the coming years.
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