Nio Opens Orders for Onvo L90; $27K Price Undercuts EV Rivals
Warning! GuruFocus has detected 3 Warning Signs with NIO.
The Onvo L90, unveiled Thursday, starts at RMB 193,900 ($27,000) under Nio's battery-rental model; customers who prefer to buy the battery can expect to pay RMB 279,900 ($39,000). The SUV features six- and seven-seat layouts, a floating 17.2-inch infotainment screen, rear-seat entertainment, three-zone climate control and yes, a built-in refrigerator.
The vehicle is powered by an 85-kWh pack, offering a CLTC-rated range of 605 km (367 miles); it runs on Nio's next-gen 900V platform for improved efficiency just 14.5 kWh per 100 km. Buyers can choose between rear- and all-wheel drive; the AWD version hits 0 to 100 km/h in just 4.7 seconds, with up to 590 horsepower.
Nio is offering early buyers a sweetener; customers placing a RMB 2,000 deposit get RMB 10,000 in combined credits split between vehicle cost and optional upgrades. The L90 will compete directly with Li Auto's higher-priced L9, which starts at over $57,000.
Nio says the L90 is the lightest full-size three-row SUV in its class; it weighs under 5,000 pounds, lighter than Lucid Gravity's nearly 6,000-pound curb weight. The L90 is Onvo's second EV; it follows the smaller L60, launched last year.
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