Imagine a relatively new car brand hitting a major production milestone in record time. That's exactly what Onvo, the sub-brand of Nio Inc (NYSE: NIO), has achieved by rolling out its 100,000th vehicle, a feat announced proudly on its mobile app. But here's where it gets even more impressive: this milestone is expected to be reached with the delivery of the 100,000th vehicle this very weekend, capping off a month where Onvo has already delivered a staggering 9,721 units. This brings their total deliveries to a whopping 90,279 vehicles as of September's end, with the L60 and L90 models leading the charge at 68,707 and 21,572 units, respectively.
Onvo's rapid ascent is no small feat, especially considering it only launched in May 2024. Positioned as Nio's entry into the mass market after years of focusing on the premium segment, Onvo has quickly become a force to be reckoned with. Its first model, the L60 electric SUV, debuted in September 2024, directly competing with Tesla's (NASDAQ: TSLA) Model Y. Fast forward to today, and the L60 has already celebrated its one-year anniversary with an updated version, boasting enhancements in energy efficiency, range, smart cockpit features, and overall comfort—all while maintaining its competitive pricing.
But here's where it gets controversial: Despite its success, Onvo's aggressive pricing strategy, particularly with its Battery as a Service (BaaS) model, has sparked debates about sustainability and profitability. The L60, for instance, starts at RMB 206,900 ($29,030) with a 60-kWh battery, but under the BaaS plan, the price drops to RMB 149,900, with a monthly battery rental fee of RMB 599. Similarly, the L90, launched in July 2025, starts at RMB 265,800 with an 85-kWh battery, or RMB 179,800 under BaaS with a monthly fee of RMB 899. Critics argue this model could strain margins, while supporters see it as a game-changer for affordability. What do you think? Is Onvo's strategy a risky gamble or a brilliant move?
And this is the part most people miss: Onvo's success isn't just about numbers. It's about Nio's strategic shift to capture a broader market while maintaining its premium brand identity. With the L60 and L90 already making waves, and the ES8 delivering its highest volume since 2019, Nio is proving it can play in multiple segments effectively. But as Onvo continues to grow, will it cannibalize Nio's premium sales, or will it attract a new audience altogether? That's a question worth discussing in the comments below. One thing's for sure: Onvo's 100,000th vehicle milestone is more than just a number—it's a testament to innovation, ambition, and the evolving landscape of the electric vehicle industry.
