The Nio (EV Brand) Thread

Here are the first official images of Nio's Onvo L60, launching tomorrow

Nio's first sub-brand is almost ready to launch its first EV. The official event is tomorrow, on May 15, in China, and ahead of that a few official images have been shared by Nio showing us bits and pieces of the new car, which will be called Onvo L60.

This will be positioned to compete with Tesla's Model Y, aiming at the family-centric EV market. The price is expected to be around CNY 250,000 (about €32,200 at the current exchange rates).

The Onvo L60 was designed by Raul Pires, Onvo's vice president and head of global design, who has over 20 years of experience at the Volkswagen Group, having designed a number of Bentley models in the past.


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Nio undercuts Tesla Model Y with £24k Onvo L60 SUV for China

Chinese EV firm's new family-focused brand launches with an ultra-efficient, battery-swapping crossover

The first model from Nio's new family-focused EV brand Onvo is a Tesla Model Y-rivalling crossover that majors on practicality and efficiency.

Called the L60, it's due on sale in China from September at a starting price equivalent to just £24,000 - undercutting its chief rival by a notable margin.

There's no word yet on plans to bring the Onvo brand to the UK, but the L60 would probably be priced closer to £40,000 if it came here, to achieve a comparable cost gap.

Onvo – previously known by the codename Alps – is the first of two new EV brands being launched by fast-growing Nio. The other, codenamed Firefly, is expected to launch with a much more affordable compact EV designed with a specific focus on the European market.

The L60 showcases how Onvo will target family buyers in the upper premium segment, with an overt focus on interior space, safety and utility.

 
Nio sub-brand Onvo will launch a 6-7 seater SUV next

Earlier this week, Nio's first sub-brand (of two planned so far) made its official debut in China with its first model, the L60. In the meantime, Nio founder and CEO William Li and Onvo president Alan Ai held a Q&A session with interested people, which revealed some interesting details about the future.

Onvo's next model will be a larger, 6-7 seat SUV. Sedans (plural) are coming after that to meet the needs of even more families - Onvo is positioned as a family-centric car maker. The brand is expected to launch overseas by the end of this year, most likely in Europe first.

 
Nio eyes Audi's Brussels plant in what would be a landmark deal

Chinese EV manufacturer Nio is reportedly considering acquiring the Audi Brussels car plant in the city of Vorst. This news, first reported by Belgian media outlet De Tijd, has sent ripples through the automotive industry, hinting at both Nio's European ambitions and the challenges Audi faces.

The Audi Brussels plant, which currently manufactures the Q8 e-tron electric SUV, is slated to cease production next year. Audi's parent company, Volkswagen, has decided not to build any more cars at the facility, leaving its future in limbo. The potential closure poses a significant threat to the plant's 2,910 employees.

Nio's interest in the plant comes at a time when the company is navigating a complex landscape in Europe. The Chinese EV maker entered the European market two years ago with high hopes, but its expansion hasn't been as smooth as anticipated. A significant challenge is the proposed increase in European import tariffs on Chinese EVs. Currently, Nio faces a 20.8% tariff on its vehicles in addition to the original 10% levy. This is a substantial increase, and it prompted Nio to explore production options in Europe to circumvent the tariffs.

Nio's European presence currently extends to Norway, Germany, the Netherlands, Sweden, and Denmark. While the company has yet to enter the Belgian market, acquiring the Audi Brussels plant could provide a strategic foothold for expansion in the region.

 
Nio's Onvo L60 starts deliveries at lower price than Tesla Model Y

Nio's sub-brand Onvo's inaugural model, the L60, has officially gone on sale. This mid-size SUV comes at an attractive price point, positioning itselft as a formidable contender against the Tesla Model Y.

Nio's CEO, William Li, envisioned Onvo as a disruptor in the mass market segment. The L60's starting price of RMB 206,900 (approximately €26,370) significantly undercuts the Tesla Model Y's current starting price of RMB 249,900 (€31,860) in China.

Onvo's embrace of Nio's battery swap technology, coupled with a battery-as-a-service (BaaS) model, allows customers to purchase the vehicle without the battery, reducing the upfront cost down to RMB 149,900 - that's roughly €19,100 at current exchange rates. In this case, the smallest 60 kWh battery costs RMB 599 per month, or €77.


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Nio denies plans of taking over Audi's car plant in Belgium

Shortly after Audi announced its plans to close its car manufacturing facility in Brussels, Belgium, rumors started spreading that Nio is looking to acquire the factory. However, the company's CEO denied any such plans.

A report surfaced the other day claiming Nio will buy the factory after officials from the company visited the facility and submitted an offer. But after Nio's recent event unveiling the L60 under its sub-brand Onvo, William Li said the company is very cautious about acquiring fixed assets unless it's for battery-swapping stations.

Frankly, this isn't an outright denial of the company's plans but signals things aren't nearly certain.

Our best guess is that Nio is exploring other options as well in light of the EU's recent tariffs. Chinese carmakers are now scrambling to find manufacturing spots in Europe and start producing their vehicles on European soil to avoid import taxes. Nio, for example, already has a strong presence in some countries like Denmark, Norway, the Netherlands, Sweden and Germany, but it doesn't have local manufacturing operations.

 
Nio shows more of the ET9 luxury sedan ahead of full launch on December 21

Nio initially unveiled its luxury executive sedan ET9 a year ago, and now it's only three days away from officially launching. To drum up some hype, the brand has shared some new images of the car, which you can see throughout this article.

The ET9 will get its full introduction during the company's Nio Day 2024 event which is taking place on December 21. The ET9 is Nio's most expensive car yet, starting at CNY 800,000 (€99,000) during pre-sales. Deliveries will start in the first quarter of next year, so before the end of March.

The ET9 will mark the debut of Nio's self-developed Shenji autonomous driving chip, manufactured on a 5nm process. The sedan comes with the SkyRide intelligent chassis which can move up and down a lot, thus providing a very comfortable ride regardless of road conditions.


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