- The delivery wait time for the Onvo L90 has doubled, and the wait time for the L60 has also been slightly extended.
- Over 70 percent of customers opted for BaaS when purchasing the L90, demonstrating the popularity of the battery rental purchase scheme.
Onvo has seen a significant increase in the wait time for its flagship SUV (sport utility vehicle) model, the L90, as the Nio Inc (NYSE: NIO) sub-brand struggles to meet delivery demands.
Meanwhile, the brand has revealed the composition of its first batch of owners, showcasing the popularity of its battery rental purchase scheme.
Chinese customers who order the Onvo L90 now are expected to receive delivery 8-10 weeks after locking in their orders, according to CnEVPost's daily monitoring of the Onvo app.
Onvo officially launched the L90 on July 31 and began deliveries of the SUV the following day on August 1.
The vehicles that began deliveries immediately were those that had been produced in advance and were fully matched with customer orders.
For customized orders without available vehicles, the wait time for the Onvo L90 during the initial launch phase was 4-6 weeks. Yesterday, this wait time was slightly extended to 5-7 weeks.
The Onvo L90 is one of the few models under Nio Inc's umbrella to face production shortages in recent years, despite the company's advance preparation of a large number of vehicles for rapid delivery.
Onvo is continuing to accelerate the production and delivery of the L90, with the Hefei factory operating at full capacity and working overtime, Nio founder, chairman, and CEO William Li said on August 5.
On August 6, Onvo president Shen Fei shared a video on Weibo showing Nio's factory working day and night to ship L90 vehicles.
Nio has high hopes for the Onvo L90, especially considering that it aims to achieve its first quarterly profit in the fourth quarter.
Shen had told his team that L90 deliveries in August must exceed 10,000 units, according to a report yesterday by local media outlet Yiou.
The wait time for Onvo's first model, the L60, remains unchanged today. The mid-size SUV saw its delivery wait time extended yesterday from 3-5 weeks to 4-6 weeks.
The delivery wait time for Nio's main brand models has remained unchanged this month, with the ET5, ET5 Touring, ES6, and EC6 all at 2-3 weeks, the ET7 at 3-4 weeks, and the EC7 and ET9 at 4-5 weeks.
The Nio App continues to not display the delivery wait time for the ES7 and ES8. Nio will unveil the next-generation ES8 later this month and officially launch the SUV at Nio Day 2025 next month.
Over 70 percent choose BaaS plan
Onvo today announced the user composition of the first batch of L90 owners, stating that over 70 percent of owners chose to purchase the vehicle through the BaaS (battery as a service) battery rental plan.
Among the different variants, 55 percent of owners chose the six-seat Ultra variant, while 43 percent opted for the six-seat Max variant.
The six-seat L90 offers three options -- Pro, Max, and Ultra -- with starting prices of RMB 265,800 ($37,000), RMB 279,800, and RMB 299,800, respectively, including the 85-kWh battery pack.
The seven-seat L90 also offers three options -- Pro, Max, and Ultra -- with starting prices of RMB 271,800, RMB 285,800, and RMB 299,800, respectively, including the 85-kWh battery pack.
Under the BaaS battery rental plan, the Onvo L90 has a starting price of RMB 179,800, with a monthly battery rental fee of RMB 899.
Currently, the L90 vehicles being delivered are six-seat versions, while the seven-seat version will begin delivery in late September.
The most popular exterior color for the Onvo L90 is black, chosen by nearly 50 percent of customers. Nearly 40 percent of customers chose silver and brown exteriors.
In terms of interior colors, over 60 percent chose brown, while 30 percent chose beige.
($1 = RMB 7.1826)
