Nio’s stock surged in early trading on the Hong Kong stock market after the pre-sales launch of Onvo’s flagship SUV, the L90. The optimism surrounding this new model has led to a 10 percent increase in Nio’s stock price, marking the sixth consecutive day of gains for the company.
The Onvo L90, a large three-row SUV, began pre-sales on July 10 with an official launch scheduled for the end of the month and deliveries set to start on August 1. The starting price for the L90, which includes an 85-kWh battery pack, is RMB 279,900 ($39,040), under the BaaS battery rental scheme, the price drops to RMB 193,900.
Analysts believe that the pricing of the L90 is competitive and will drive Onvo’s sales growth. Deutsche Bank’s Wang Bin’s team projected that the SUV’s monthly sales volume could reach around 5,000 units. They also anticipate that Onvo’s total monthly sales could exceed 10,000 units in the third quarter, given the success of the Onvo L60, which sold 31,862 units in the first half of 2025.
Looking ahead, Onvo plans to launch the ultra-large SUV L80 in October with an expected monthly sales volume of about 5,000 units. The pre-sales pricing of the L90 has exceeded market expectations, with CICC stating that the model is expected to maintain a leading position in the high-end large three-row SUV market.
In conclusion, the pre-sales success of the Onvo L90 has sparked optimism among investors and is expected to drive sales growth for Nio’s sub-brand. With competitive pricing and strong market expectations, Onvo’s future in the EV industry looks promising.
