NIO’s new low-cost Onvo L60 EV could boost sales to +20,000 per month

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NIO’s new low-cost Onvo L60 EV could boost sales to +20,000 per month

Electrek05-17

The first model of NIO’s new low-cost Onvo brand, the L60 electric SUV, could lead to a sales surge, according to at least one analyst. Aimed at Tesla’s best-selling Model Y, the NIO Onvo L60 could ...

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Aimed at Tesla’s best-selling Model Y, the NIO Onvo L60 could ...</p>\n\n<a href=\"https://electrek.co/2024/05/17/nios-new-low-cost-onvo-l60-ev-boost-sales-20k-month/\">Source Link</a>\n\n</div>\n","source":"electrek_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO’s new low-cost Onvo L60 EV could boost sales to +20,000 per month</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO’s new low-cost Onvo L60 EV could boost sales to +20,000 per month\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-17 23:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://electrek.co/2024/05/17/nios-new-low-cost-onvo-l60-ev-boost-sales-20k-month/><strong>Electrek</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The first model of NIO’s new low-cost Onvo brand, the L60 electric SUV, could lead to a sales surge, according to at least one analyst. Aimed at Tesla’s best-selling Model Y, the NIO Onvo L60 could ...</p>\n\n<a href=\"https://electrek.co/2024/05/17/nios-new-low-cost-onvo-l60-ev-boost-sales-20k-month/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NIO","symbol_name":"蔚来","start_time":0,"source_url":"https://electrek.co/2024/05/17/nios-new-low-cost-onvo-l60-ev-boost-sales-20k-month/","article_id":"2436436379","we_media_id":null,"thumbnails":["https://electrek.co/wp-content/uploads/sites/3/2024/05/NIOs-Onvo-L60-sales.jpeg?quality=82&strip=all&w=1400"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2436436379","pubTimestamp":1715960839,"sourceInfo":{"source_id":"electrek_highlight","name":"Electrek"},"weMediaInfo":null,"summary":"The first model of NIO’s new low-cost Onvo brand, the L60 electric SUV, could lead to a sales surge, according to at least one analyst. Aimed at Tesla’s best-selling Model Y, the NIO Onvo L60 could boost sales to over 20,000 per month as an even more affordable ($30K) option. ","collect":0,"end_time":0,"defaultTopTitle":"electrek.co","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"NIO":"蔚来"},"translate_title":"蔚来新的低成本Onvo L60电动汽车可以将销量提高到每月2万辆","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NIO":1},"content_text":"The first model of NIO’s new low-cost Onvo brand, the L60 electric SUV, could lead to a sales surge, according to at least one analyst. Aimed at Tesla’s best-selling Model Y, the NIO Onvo L60 could boost sales to over 20,000 per month as an even more affordable ($30K) option. \n \n\nNIO’s new $30K Onvo L60 could lead to a sales surge\nAfter launching the first EV under its new mass-market Onvo brand this week, starting at $30,500 (219,900 yuan), NIO’s new electric SUV is already attracting analysts’ attention.\nIn a statement sent to investors overnight, Deutsche Bank (via CnEVPost) analyst Wang Bin’s team said: “Onvo L60 SUV will officially start delivery in Sep. 2024, and the company is targeting Onvo L60 monthly delivery volume of ~10,000 units.”\nHowever, the analyst agreed NIO’s previous target of 20,000 deliveries per month is doable. “Thus we think Nio’s expectation of monthly >20,000 unit delivery is achievable with boost from Onvo.”\nAt 4,828 mm long, 1,930 mm wide, and 1,616 mm tall, the Onvo L60 will directly rival the Model Y (4,750 mm long X 1,921 mm wide X 1,624 mm tall).\nNIO CEO William Li presents the Onvo L60 electric SUV (Source: NIO)\nA true Tesla Y rival?\nStarting at $30,500 (219,900 yuan), NIO’s new electric SUV undercuts the Tesla Model Y in China. Tesla’s base RWD Model Y starts at $34,500 (249,900 yuan) with up to 554 km (344 mi) CLTC range.\nNIO Onvo L60 vs Tesla Model Y trimsRange(CLTC)Starting PriceNIO Onvo L60 (60 kWh)555 km (341 mi)219,900 yuan ($30,500)NIO Onvo L60 (90 kWh)730 km (454 mi)TBDNIO Onvo L60 (150 kWh)+1,000 km (+621 mi)TBDTesla Model Y RWD554 km (344 mi)249,900 yuan ($34,600)Tesla Model Y AWD Long Range688 km (427 mi)290,900 yuan ($40,300)Tesla Model Y AWD Performance615 km (382 mi)354,900 yuan ($49,100)NIO Onvo L60 vs Tesla Model Y\nThe new NIO Onvo L60 gets over 1,000 km (+621 mi) CLTC range with the top-of-the-line 150 kWh version. However, the base L60, starting at $30,500 (60 kWh battery), gets up to 555 km (341 mi) range.\nTesla’s Long Range AWD Model Y starts at $40,300 (290,900 yuan) with up to 688 km (427 mi) range, while the AWD Performance model costs $49,100 (354,900 yuan).\nNIO Onvo L60 electric SUV (Source: NIO)\nNIO says its new electric SUV has better energy consumption than the Tesla Model Y (12.1 kWh/100km vs. 12.5 kWh/100km) under the same CLTC conditions.\nBin’s team expects NIO to launch six new vehicles next year, generating 300,000 in sales. That would be 25,000 unit sales per month, including NIO’s new Onvo brand.\nNIO Onvo L60 electric SUV (Source: NIO)\nNew EVs to accelerate growth\nNIO CEO William Li and Alan Ai, president of Onvo, revealed the brand’s second model will be a larger (six or seven-seater) electric SUV. According to CarNewsChina, the second Onvo EV is expected to launch in 2025.\nIn addition to the two new Onvo EVs, Bin’s team expects four new NIO brand models to roll out next year: the ET9 Sedan, ES8 SUV, and ES7 SUV, all based on its new NT 2.0 platform.\nNIO Onvo L60 electric SUV (Source: NIO)\n“As a result, we forecast Nio’s total 2025 sales volume to increase 62% YoY to 300,000 units,” the note read. The breakdown includes 200,000 NIO brand models and another 100,000 in Onvo sales.\nNIO delivered 15,620 vehicles last month, up 135% YOY, with the EC6 (+53%), ES6 (+48%), and ET5 (+52%) all seeing double-digit month-over-month gains.\nNIO management told the media this morning that the the development of Onvo’s second EV is almost complete and deliveries will begin next year.\nNIO EC6 (Source: NIO)\n“If the product is done right, a single model could sell enough, as Tesla BYD has proven,” Li said. BYD recently launched its own Model Y competitor, the Sea Lion 07, starting at 189,800 ($26,250), undercutting both rival EVs (Check out BYD’s Sea Lion 07 here).\nWhat do you you think? Can NIO’s new Onvo brand match Tesla’s or BYD’s sales? Drop us a comment below to let us know your thoughts.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}