Test Drives of L90 Initiated by Onvo Boosts Optimism in Nio Shares' Valuation
In the world of electric vehicles (EV), the race is on, and Chinese automakers are leading the charge. Onvo, a sub-brand of Nio Inc, is set to launch its flagship three-row SUV, the Onvo L90, on July 31, 2025, with deliveries starting the following day.
The L90, positioned as a smart large-space flagship SUV designed for families, has been generating significant buzz, especially since it will be one of the fastest-delivered models under the Nio Inc umbrella. Pre-sales for the L90 started on July 10, with an 85-kWh battery pack and a starting price of RMB 279,900 ($39,040). Under the Battery as a Service (BaaS) battery rental plan, the pre-sales starting price drops to RMB 193,900.
The L90's launch event is yet to announce its start time, but it is typical for Chinese automakers to hold such events around 7:00 or 7:30 pm Beijing time. The event will take place on July 31, according to Onvo's official announcement.
The L90's launch comes just two days after Li Auto's Li i8 electric SUV, which began pre-sales on July 17 with an expected price range of RMB 350,000 to RMB 400,000. However, the L90 is viewed as having significantly greater competitiveness compared to the Li i8.
As for the market response, Nio's American Depository Receipts (ADRs) traded in the US were up 10.84 percent to $5.01 at the close of US trading on Tuesday. In Hong Kong, Nio's shares have risen by 43 percent since the L90 began pre-sales on July 10, and as of press time, they traded at nearly 9 percent to HK$39.35.
On the other hand, Li Auto's shares have been weak in recent days, currently down about 1 percent in Hong Kong. However, they have risen about 14 percent in Hong Kong since July 10, indicating a positive trend despite recent fluctuations.
Test drives for the L90 began on July 23, 2025, across more than 400 Onvo showrooms in 140 cities. With nearly 600 vehicles available for test drives, potential customers can get a first-hand feel of the L90 before its official launch.
As the EV market continues to grow, competition is fierce, and the launch of the Onvo L90 and Li Auto's Li i8 within a short span of time is a testament to this. The L90's launch on July 31 promises to be an exciting event in the EV industry, and we can expect more innovations and advancements in the future.
- The Onvo L90, a flagship SUV from Nio Inc's sub-brand Onvo, is set to launch on July 31, 2025, with deliveries starting the next day.
- Pre-sales for the L90 began on July 10, and it is positioned as a smart, large-space SUV designed for families, with an 85-kWh battery pack and a starting price of RMB 279,900.
- Under the Battery as a Service (BaaS) battery rental plan, the pre-sales starting price drops to RMB 193,900.
- The launch event for the L90 is yet to announce its start time, but it is typical for Chinese automakers to hold such events around 7:00 or 7:30 pm Beijing time.
- The launch of the L90 comes just two days after Li Auto's Li i8 electric SUV began pre-sales, with an expected price range of RMB 350,000 to RMB 400,000. However, the L90 is viewed as having significantly greater competitiveness compared to the Li i8.
- As the EV market continues to grow, test drives for the L90 began on July 23, 2025, across more than 400 Onvo showrooms in 140 cities, with nearly 600 vehicles available for test drives, allowing potential customers to get a first-hand feel of the L90 before its official launch.
