Following leaked spy images that hinted at a new electric vehicle (EV) sub-brand, NIO has officially confirmed its upcoming venture will be named “Onvo.” Previously known as “Alps,” Onvo EVs are designed with families in mind, marking a strategic expansion for the renowned EV specialist.
NIO’s expansion into sub-brands comes amidst the company’s continued growth in luxury passenger vehicles, battery swap stations, and global market presence. The new sub-brands, including the more affordable Firefly, are aimed at catering to different customer segments, with Firefly expected to launch in China and Europe by 2025.
The more imminent Onvo, formerly Alps, is set to debut in the EU market. During NIO’s Q4 2023 report, CEO William Li confirmed that the Alps brand would launch in Q2 2024, starting with a crossover EV positioned to rival the Tesla Model Y.
Recently, images of the upcoming crossover, codenamed DOM, surfaced online, showcasing a design akin to the Model Y. Chinese media outlets later revealed non-camouflaged images of the vehicle, now officially named the Onvo L60.
NIO has officially confirmed the Onvo brand and provided further details regarding the upcoming launch and features of the new EV.
NIO founder and CEO William Li stated, “The new brand is called Ledao, or Onvo in English,” addressing the recent leaks. Li also criticized the leaked images, claiming they did not do justice to the vehicle’s actual design, which he described as “quite beautiful.” The L60 is reported to feature vision cameras in place of LiDAR sensors and will offer unique features like a refrigerator, TV, or large sofas. Li added that the L60 would be priced 10% lower than the Model Y, falling in the RMB 200,000-300,000 price range ($27,800-$41,700).
Li emphasized that the Onvo brand is targeted at families in the mass market but is not positioned as a low- to mid-range EV brand. He stated, “What is the most important thing for a family? The first one is to be happy and joyful. The second is to care about the cost and the cost of use.”
