Onvo, the mass-market sub-brand of Nio Inc (NYSE: NIO), has launched an updated version of its L60 SUV as the model marks its first anniversary.
The updated L60 is now available for locked-in orders via Onvo’s mobile app, with deliveries set to begin in mid-to-late October. Pricing remains unchanged at RMB 206,900 ($29,080) for the base model with a 60-kWh battery pack. Under the Battery as a Service (BaaS) plan, the starting price is RMB 149,900 with monthly rental fees beginning at RMB 599.
Onvo said the L60 has been upgraded in energy efficiency, range, smart cockpit features and comfort. Buyers can now choose from additional customization options, including new colors, wheels, interior trims and a small table board. Existing L60 owners will receive over-the-air updates to access improved range and smart cockpit functions.
Display models are now available in more than 100 Onvo stores across China. Customers who purchase the vehicle before Sept. 30 will be offered discounts on select customization packages. Financing plans include a three-year zero-interest option and five years of free Navigation on Autopilot (NOA) software.
Nio launched the Onvo brand in May 2024, positioning the L60 against Tesla’s Model Y. The SUV went on sale in September 2024 and has since delivered 64,458 units as of end-August.
Onvo introduced its second model, the larger L90 SUV, on July 31 this year, with deliveries beginning the next day. Strong demand for the L90 has put pressure on production capacity, with Nio appearing to allocate more resources to the higher-priced model, which starts at RMB 265,800, while scaling back large-scale marketing efforts for the L60.
