Nio’s sub-brand Onvo has embarked on an exciting journey by allowing Chinese customers to test drive its highly anticipated L90 flagship SUV. The L90 test drives kicked off at 10 am Beijing time on Wednesday, with nearly 600 vehicles available for test drives across over 400 showrooms in 140 cities. This move comes as the brand gears up for the official launch of the L90 on July 31, marking a significant milestone for Onvo.
The optimism surrounding the L90 has had a positive impact on Nio’s stock price, with shares in Hong Kong soaring by 43 percent since the commencement of pre-sales on July 10. This surge in stock price reflects the high expectations and excitement surrounding the upcoming flagship SUV.
The L90 is expected to be one of the fastest-delivered models under the Nio Inc umbrella, with the company placing high hopes on its success. The pre-sales starting price for the L90, which includes an 85-kWh battery pack, is RMB 279,900 ($39,040). Alternatively, customers can opt for the BaaS (battery as a service) battery rental plan, with a pre-sales starting price of RMB 193,900. It is worth noting that the L90’s price is expected to decrease further at its official launch, a common strategy in China’s EV industry.
The upcoming launch of the L90 coincides with the launch of Li Auto’s Li i8 electric SUV on July 29, leading to comparisons between the two models. While Li Auto may need to convince consumers why they should choose the Li i8 over the larger and more affordable L90 from Onvo, the latter is seen as having a competitive edge in the market.
As the automotive industry gears up for these exciting launches, investors and consumers alike are keeping a close eye on the developments. With Nio’s stock price on the rise and the anticipation building up for the L90’s official launch, the electric vehicle market in China is poised for an exciting period of growth and innovation.
