Onvo's website address is onvo.cn, and the text in the center of the page reads "First model L60, stay tuned."
The website for Nio's (NYSE: NIO) mass-market sub-brand Onvo (Ledao in China) went live today, but with much reduced content compared to a previously leaked page.
Onvo's website address is onvo.cn, and the text in the center of the page reads, "First model L60, stay tuned."
Aside from the text, the page displays Onvo's name in English and Chinese, a logo, and a website filing number, but nothing more.
The site shows "Onvo's official website" in a web browser tab.
On April 29, Nio displayed the same information on its alpssev.nio.com page, with additional screenshots and details about the Onvo App.
However, the page was only live for a few hours at the time before being taken offline and is still not showing any content.
Yesterday, an auto blogger said that Onvo's management team will be unveiled on May 9, and the brand's head, the meaning of the brand and logo, and information about the Onvo App are expected to be announced.
Nio confirmed the Onvo name during a media Q&A after its long-life battery strategy launch event on March 14 and said the brand launch is expected to be in early-mid May.
Last month, the company's co-founder and president, Qin Lihong, said the Onvo brand would be unveiled in mid-May.
The head of the Onvo brand is named Ai Tiecheng, a senior vice president at Nio, according to his Weibo profile.
Nio's internal codename for Onvo is Alps, and the company also has a new brand codenamed Firefly.
Alps' first model will be one that competes directly with Tesla's (NASDAQ: TSLA) Model Y, and will have a BOM (bill of materials) cost that's about 10 percent cheaper than Tesla's, Nio founder, chairman, and CEO William Li said in a March 5 earnings call.
The Onvo L60 is expected to target the RMB 200,000 ($27,750) to RMB 300,000 price range, and could see the starting price drop to around RMB 150,000 under the BaaS (battery as a service) plan.
BaaS is a service that Nio launched in August 2020 to allow the threshold for purchasing a Nio vehicle to be lowered by at least RMB 70,000.
Customers purchasing a Nio vehicle under the BaaS plan do not own the vehicle's battery pack, and have to pay a monthly battery rental fee.
($1 = RMB 7.2078)
Nio rumored to reveal management team for Onvo sub-brand on May 9
