Nio's Onvo Sub-Brand Surpasses 50,000 L60 Deliveries in Its First Quarter
· automotive
Nio’s mass-market sub-brand Onvo has crossed 50,000 cumulative L60 deliveries in its first full quarter of sales. The L60 is a five-seat family SUV priced from 209,900 CNY, directly under the Tesla Model Y in the Chinese market. It uses Nio’s swappable battery architecture and is eligible for the BaaS (battery-as-a-service) subscription, which can drop the entry price below 150,000 CNY.
Why it matters
The L60 is the proof point for Nio’s two-brand strategy. Nio’s main brand serves the premium segment with the ES6, ET7, and ET9; Onvo is the volume play that Nio needs to compete with Tesla and the joint-venture brands in the family-SUV segment. The 50,000-unit number is a respectable start, and Nio has hinted that a second Onvo model, a smaller sedan, will be revealed later in 2026.
What is new
- 50,000 L60 deliveries in Q1 2026
- BaaS subscription drops entry price to under 150,000 CNY
- Swap-compatible with the main Nio battery swap network
- A second Onvo model, a smaller sedan, is expected later in 2026