Nio sub-brand Onvo's first 105 stores opened today, and for the first time, general consumers will be able to closely experience the brand's first model, the L60.
Nio (NYSE: NIO) sub-brand Onvo opened its first stores today, with the official launch of its first model, the L60, set to take place at the end of this month.
Onvo's first 105 stores opened today across 55 cities in China, the brand announced today.
For the first time, general consumers will be able to experience the Onvo L60 up close, especially with the vehicle system NT.Coconut, which was officially announced yesterday.
Onvo's first stores are located primarily in China's more economically developed provinces and cities, with 20 in Zhejiang, 19 in Jiangsu, and 11 in both Shanghai and Guangdong.
Onvo is a mass-market sub-brand of Shanghai-based Nio, and the EV maker also has a third brand codenamed Firefly to target the lower-priced market.
Onvo president Ai Tiecheng will serve customers at a store in Shanghai today and will present a live video stream on Sunday at 4 pm Beijing time.
The Onvo L60 made its debut on May 15 and became available for pre-order at a pre-sale price of RMB 219,900 ($31,010) including the battery.
The model is a mid-size SUV with length, width and height of 4,828 mm, 1,930 mm and 1,616 mm respectively, and a wheelbase of 2,950 mm.
Onvo is expected to allow customers to purchase the L60 with just the body and rent the battery pack, further lowering the barrier to purchase, similar to the Nio brand.
The standard-range version of the model is powered by a 60.6-kWh BYD-sourced battery with a CLTC range of 555 kilometers. Its long-range version has a CLTC range of over 730 kilometers.
The model will be officially launched in late September and deliveries are expected to start by the end of September, Ai said in a July 25 live video.
Yesterday, Onvo unveiled its vehicle system, NT.Coconut, and promised long-term maintenance and update support.
($1 = RMB 7.0908)
