- Under the BaaS plan, the monthly rental fee for the 60-kWh battery pack is RMB 599 ($83), a 33.37 percent reduction from that of the 85-kWh battery pack.
- Onvo emphasizes that the 85-kWh battery pack is more recommended for a better experience in a large SUV.
Onvo has introduced a smaller 60-kWh battery pack option for its flagship electric SUV (sport utility vehicle) L90 in response to customer demand for cost savings.
The Nio Inc (NYSE: NIO) sub-brand announced today that it is offering L90 customers a limited-time option to purchase vehicles equipped with the 60-kWh battery pack, but only through the BaaS (battery as a service) battery rental purchase plan.
Last week, Onvo said that more than 70 percent of the first batch of L90 owners chose the BaaS plan.
The L90 large SUV comes standard with an 85-kWh battery pack, which is Onvo's long-range pack. The L60 midsize SUV, the first model from the Nio sub-brand, comes standard with a 60-kWh standard-range battery pack.
Notably, Onvo does not plan to offer the 60-kWh battery pack as an option in the L90's configurator. Customers who prefer the smaller battery pack will need to contact sales representatives after locking their orders to adjust the battery pack option.
For the L90, under the BaaS plan, the monthly rental for the 60-kWh battery pack is RMB 599 ($83), a reduction of RMB 300, or 33.37 percent, compared to the 85-kWh battery pack's RMB 899 yuan.
Directly available to new buyers
The 60-kWh battery pack is directly available for new buyers of the L90, but they must purchase the vehicle under the BaaS plan and contact a sales consultant to modify the configuration.
After receiving the vehicle, they can upgrade to the 85-kWh battery pack as needed.
If they choose to upgrade, an additional fee will be charged on top of the monthly fee of RMB 599:
- Daily upgrade: RMB 45 per day.
- Monthly upgrade: RMB 800 per month.
- Annual upgrade: RMB 8,800 per year.
- Permanent upgrade: Battery monthly rental will be adjusted to RMB 899.
For customers who choose the permanent upgrade, if they upgrade within one year of delivery, they will need to pay a service fee of RMB 1 yuan. If they upgrade after one year of delivery, they will need to pay the fees according to the rates in effect at that time.
For existing vehicle owners
L90 vehicle owners who have already received their vehicles can also choose to downgrade to the 60-kWh battery pack with different options available.
Customers who purchased their vehicles under the BaaS plan, as well as those who purchased the L90 with the battery pack included, can use Onvo's battery sharing service to share their 85-kWh battery pack with battery swap stations and earn reward points.
Sharing services and reward programs vary by region and time period.
For customers who purchased their vehicles under the BaaS plan, they can choose to permanently downgrade to the 60-kWh battery pack and see their monthly battery rental fee reduced from RMB 899 to RMB 599.
The permanent downgrade option is not available for L90 customers who purchased their vehicles with the battery pack included, meaning Nio Inc will not need to refund customers for this service.
"As a large SUV, we highly recommend the 85-kWh battery pack that comes standard for a better driving experience," Onvo emphasized.
"If your daily driving is primarily urban commuting with occasional long-distance needs, we also welcome you to experience the 60-kWh battery pack," Onvo said on its mobile app.
Onvo officially launched the L90 on July 31 and began deliveries of the SUV the following day on August 1.
The electric SUV has a starting price of RMB 265,800 ($36,860) including the battery pack. Under the BaaS plan, the starting price is RMB 179,800, with consumers required to pay a monthly battery rental fee.
($1 = RMB 7.1827)
