Onvo, the sub-brand of Nio, is gearing up to launch two new models in 2025, following the successful release of its first model, the L60 SUV. According to a recent report by local tech media Leiphone, Onvo’s second model will be a six- or seven-seat SUV set to hit the market by the end of the first quarter of 2025.
The report also mentions that deliveries of the new SUV model are expected to commence around May, although there is a possibility of a delay. It is important to note that the timeline provided in the report contradicts previous statements made by Nio’s management, so it should be taken with caution.
During the launch of the L60, Nio’s founder, chairman, and CEO, William Li, revealed that Onvo plans to introduce one new model every year. He also mentioned that a mid-to-large-size SUV is in the works for 2025, which will be a groundbreaking product that will bring surprises to consumers. Li emphasized that this new model will be even more competitive than the L60.
According to a source cited in the Leiphone report, the upcoming SUV will be priced under RMB 300,000 yuan ($42,140) for the six-seat version. With the Battery as a Service (BaaS) option, Onvo’s two SUVs next year will cover a price range of RMB 140,000 to RMB 220,000, catering to the demand for both five- and six-seat models.
The new mid-to-large-size SUV is expected to be Onvo’s key strategy to increase deliveries next year. Additionally, the report mentioned a potential sedan model announcement in the second half of 2025, although it may not significantly impact overall sales volume next year.
Onvo faces a challenge in terms of sales channels, as the current number of offline stores is deemed insufficient to meet the brand’s sales targets. The sub-brand plans to increase its store count to around 250 in the first quarter of 2025 and explore partnerships with third parties to expand its reach.
Despite the challenges, Onvo remains optimistic about the future and aims to achieve significant delivery targets. Li mentioned during an earnings call that Nio hopes to achieve 20,000 monthly deliveries of the Onvo L60 at some point in 2025.
Overall, Onvo’s upcoming models and strategic initiatives signal a promising future for the sub-brand within the competitive electric vehicle market. With innovative products and a focus on expanding its sales channels, Onvo is poised for growth and success in the coming years.
