Onvo, a sub-brand of Nio Inc (NYSE: NIO), has responded to customer demand for cost savings by introducing a smaller 60-kWh battery pack option for its flagship electric SUV, the L90. The company announced that customers can now purchase vehicles equipped with the 60-kWh battery pack, but only through the BaaS (battery as a service) battery rental purchase plan.
Last week, Onvo revealed that more than 70 percent of the first batch of L90 owners opted for the BaaS plan. The L90 comes standard with an 85-kWh battery pack, which is Onvo’s long-range pack. In contrast, the L60, the first model from the Nio sub-brand, comes with a 60-kWh standard-range battery pack.
Customers interested in the 60-kWh battery pack will not find it as an option in the L90’s configurator. Instead, they must contact sales representatives after locking their orders to adjust the battery pack option. Under the BaaS plan, the monthly rental fee for the 60-kWh battery pack is RMB 599 ($83), a 33.37 percent reduction from the 85-kWh battery pack’s rental fee of RMB 899.
New buyers of the L90 can directly choose the 60-kWh battery pack under the BaaS plan and then contact a sales consultant to modify the configuration. They also have the option to upgrade to the 85-kWh battery pack if needed, with additional fees for daily, monthly, annual, or permanent upgrades.
Existing L90 owners can also choose to downgrade to the 60-kWh battery pack with various options available. Those who purchased their vehicles under the BaaS plan or with the battery pack included can utilize Onvo’s battery sharing service to share their 85-kWh battery pack with battery swap stations and earn reward points.
Onvo emphasizes that the 85-kWh battery pack is recommended for a better driving experience, especially for a large SUV. However, for customers whose daily driving comprises urban commuting with occasional long-distance trips, the company welcomes them to experience the 60-kWh battery pack.
Onvo officially launched the L90 on July 31 and began deliveries on August 1. The electric SUV has a starting price of RMB 265,800 ($36,860) including the battery pack, with a BaaS option starting at RMB 179,800. The goal is to deliver over 10,000 L90 units in August, according to a report citing Onvo president Shen Fei.
In conclusion, Onvo’s introduction of the 60-kWh battery pack option for the L90 provides customers with more flexibility and cost-saving opportunities while maintaining a focus on delivering a superior driving experience in the electric SUV segment.
