- Nio's third factory in Hefei, Anhui province, will start production in September, which is expected to support the upcoming delivery of the Onvo L90.
- The Onvo L90 will start at under RMB 300,000 ($41,870), according to William Li.
Nio's (NYSE: NIO) third factory in Hefei, Anhui province, or the F3 factory, will officially begin production in September, according to William Li, the founder, chairman, and CEO of the Chinese electric vehicle (EV) maker.
Li revealed the timeline while leading a group of visitors, including renowned Chinese writer and ET9 owner Wu Xiaobo and nearly 100 entrepreneurs, on a tour of Nio's second factory in Hefei today. The event was streamed live online.
This timeline aligns with what he mentioned last month. During an earnings call on June 3, Li said that Nio's third factory would officially begin production in September, with some production lines operating on a two-shift schedule when needed.
Nio currently produces vehicles for its main brand and two sub-brands, Onvo and Firefly, at its two factories in Hefei.
The third factory appears to be primarily focused on supporting Onvo vehicle production, as the sub-brand will begin pre-sales of its flagship SUV (sport utility vehicle) L90 on July 10.
Li hinted during today's event that the Onvo L90's pricing will be competitive, stating that the starting price will be under RMB 300,000 ($41,870).
"The starting price for the L90 will definitely be under 300,000 yuan -- there's no way else; we all have to go all out now," Li said, according to a live stream viewed by CnEVPost.
The Onvo L90 is a large SUV with dimensions of 5,145 mm in length, 1,998 mm in width, and 1,766/1,786 mm in height, with a wheelbase of 3,110 mm, according to previous regulatory filings.
The SUV will primarily compete with models whose names include the number 9, such as the Li Auto (NASDAQ: LI) Li L9.
The Onvo L90 made its official debut on the first day of the 2025 Shanghai auto show on April 23, showcasing its ultra-large frunk and other storage spaces.
The L90 will be the first model launched by Shen Fei since he replaced Alan Ai as Onvo's president in April. The current sole model of Onvo, the L60, was launched under Ai's leadership.
Last night, Shen posted on Weibo that the L90 is ready for action, sharing two images of the SUV that has completed production, hinting that deliveries will begin soon.
($1 = RMB 7.1653)
