Chinese premium electric car company NIO officially launched its lower-priced brand called ONVO. With ONVO joining the brand lineup, NIO kickstarts its multi-brand development.
ONVO originates from “On Voyage”, and its Chinese name “Le Dao” translates into “Path to Happiness”, meaning “Happiness on Every Path We Travel With Family”. The logo of ONVO resembles an upward path, representing ONVO’s aspiration of growing with all the families on a path always going up and full of happiness. With a focus on families, ONVO is committed to creating better family life, and bringing better brand and product experiences to family users.
ONVO introduced its first product L60, a smart electric mid-size family SUV. L60 will bring mainstream family users vehicle experiences of premium quality. The ONVO L60 has been available for preordering with a starting price of RMB 219,900 (about $30,500). The delivery will start Q3 2024.
William Li, Founder, Chairman and CEO of NIO, said, “Kicked off three years ago, ONVO has already developed a holistic set of system capabilities, and has been further enabled by NIO’s capabilities and resources accumulated in the past 10 years. With ONVO added to our brand lineup, we are able to reach out to and serve more users. Leveraging the system competitiveness of the entire company, we have full confidence in NIO and ONVO.”
Benefitting from NIO’s unwavering R&D investment of more than RMB 43 billion ($5.95 billion) in the 12 full-stack technology capabilities, ONVO has already gained competitive advantages in R&D, supply chain, manufacturing, quality, battery charging and swapping network, as well as sales and service networks.
With deep insights into the real needs for family cars, ONVO’s product definition and development philosophy are set to bring happiness and good products to family users. On top of this, it has developed the Value Formula, a new standard for the family car market. With value of experience maximized and ownership costs optimized, the ONVO L60 redefines the standards for family vehicles.
The L60 aims to create experience value in the six frequently-encountered and highly-perceivable user scenarios, including all-round safety, comfort of space, smart cabin and digital experience, driving range and ease of recharging, riding and handling, as well as assisted and intelligent driving. Adopting industry-leading 900V high-voltage architecture, with an impressive CLTC energy efficiency of 92.3% and the world’s lowest drag coefficient of 0.229 for a production SUV, the L60 has an energy consumption of 12.1 kWh per 100 km. With an Ultra Long Range Battery, it can realize a CLTC range of over 1,000km. The short overhangs allow for a spacious cabin. With ingenious storage design, every occupant can bring along their own luggage.
Based on NIO’s full-stack capabilities in assisted and intelligent driving, upon deliveries, the L60 will be able to offer a reliable, intuitive and hassle-free assisted driving experience nationwide in China. In addition, ONVO also shares the one-of-a-kind “Chargeable, Swappable, Upgradable” solution of NIO Power. After picking up the vehicles, ONVO users can enjoy the 3-minute battery swap at more than 1,000 swap stations in China.
Alan Ai, Senior Vice President of NIO and President of ONVO, spoke at the brand launch, “ONVO is on a mission to create better family life, and the L60 will grow and explore the world with its users to celebrate happiness on every path we travel with family.”
