Onvo

Onvo
Company typeBrand
IndustryAutomotive
FoundedMarch 2024; 9 months ago (2024-03)
Headquarters
Shanghai
,
China
Area served
China
Key people
Alan Ai (president)
ProductsElectric vehicles
ParentNio Inc.
Chinese name
Simplified Chinese乐道
Hanyu PinyinLèdào
Websiteonvo.cn

Onvo (Chinese: 乐道; pinyin: Lèdào) is a Chinese manufacturer of electric cars owned by Nio Inc. It is based in Shanghai, China and founded in 2024. The brand targets the mass-market instead of Nio's premium segment. Its first model, the L60, went on sale in September 2024.

History

An Onvo showroom in Zhongshan, China

In spring 2023, Nio announced plans to expand its portfolio with two additional brands, including a more affordable line aimed at the European market.[1] One of these brands was internally referred to as "Alps".[2] By February 2024, images of a camouflaged prototype from this brand were published, still under the "Alps" codename.[3] In March 2024, Nio disclosed the brand's official name, Onvo, by including it on the prototype.[4][5]

Onvo was formally introduced in May 2024. Onvo stands for "On Voyage," while its Chinese name, 乐道; Lèdào, is intended to evoke the idea of a family enjoying time together.[6] Onvo was identified as a key element to help Nio increase its market share and expand its customer base.[7] The launch included the introduction of the brand's website, mobile application, and Alan Ai (Ai Tiecheng), a senior vice president at Nio, as president of the brand.[8] Its first product, a mid-size SUV named the L60, was also unveiled.[9] Positioned to compete with the Tesla Model Y, the L60 features low energy consumption, a long range, and is priced competitively. Nio CEO William Li stated that Onvo vehicles would be available in domestic and export markets such as Europe, with deliveries of the L60 expected to begin in September 2024.[10]

Products

  • Onvo L60 (released in 2024), mid-size coupe SUV
  • Onvo L60
    Onvo L60

See also

References

  1. ^ "New Nio sub-brand to focus on affordable electric cars". Auto Express. Retrieved 2024-09-21.
  2. ^ Zhang, Phate (2024-03-05). "New spy shots of Nio Alps model revealed, aims to beat Tesla Model Y". CnEVPost. Retrieved 2024-09-21.
  3. ^ "Nio's first Alps branded EV brags that it's better than the Tesla Model Y in spy shots". ArenaEV.com. Retrieved 2024-09-21.
  4. ^ Zhang, Phate (2024-05-06). "Nio sub-brand Onvo's website goes online". CnEVPost. Retrieved 2024-05-16.
  5. ^ Opletal, Jiri (2024-05-15). "Nio's Onvo L60 SUV-coupe starts pre-sale at 30,500 USD, has lower energy density than Model Y and 1000 km range". CarNewsChina.com. Retrieved 2024-05-16.
  6. ^ Cheng, Evelyn (2024-05-15). "Tesla's Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000". CNBC. Retrieved 2024-05-16.
  7. ^ Zhang, Phate (2024-05-06). "Nio sub-brand Onvo's website goes online". CnEVPost. Retrieved 2024-05-16.
  8. ^ Zhang, Phate (2024-05-15). "Who is head of Onvo? Nio president explains". CnEVPost. Retrieved 2024-09-21.
  9. ^ Zhang, Phate (2024-05-15). "Nio formally launches Onvo sub-brand, 1st model L60 to challenge Tesla Model Y". CnEVPost. Retrieved 2024-09-21.
  10. ^ Zhang, Phate (2024-05-16). "Onvo L60 likely to help Nio top 20,000 unit monthly sales, says Deutsche Bank". CnEVPost. Retrieved 2024-09-21.

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