William Li, founder and CEO of Nio, revealed more on pricing and expectations for the Onvo L60 on September 6 in the companyβs second quarterly earnings call. The first car from the companyβs second and more mass-orientated brand will officially launch on September 19, with initial deliveries beginning before the end of the month.
Currently, the Onvo L60 (see specs) is on pre-sales with a price of 219,900 yuan (31,050 USD), which is 30,000 yuan (4,250 USD) cheaper than the Tesla Model Y. Speaking about the launch, Li cautioned that although the price will be cheaper than the pre-sales price the company is taking gross margin into account and so will not be overly aggressive. Nio expects deliveries of the Onvo L60 to exceed 10,000 in December and that, at some point next year, sales will be over 20,000 per month. It should be noted that in the earnings call, Li also mentioned that it was a goal of the Nio brand to have sales of around 30,000 to 40,000 cars per month along with a gross profit margin of 25%; this, however, appears to be more of a long-term goal. For the Onvo brand, the target is a 15% gross profit margin.
The Onvo L60 uses Nioβs third-generation NT3.0 platform, and although the battery is different to that used by Nio models, it is still compatible with the Nio battery swap network. At launch, the Onvo L60 will come with a 61 kWh battery pack and will use lithium iron phosphate batteries from BYD subsidiary FinDreams. There is also meant to be an 85 kWh NCM battery pack. The packs themselves can be swapped at any Nio fourth-generation station and third-generation stations, which have been upgraded to be compatible with the Onvo brand. Onvo models cannot use Nioβs first and second-generation battery swap stations. Energy consumption of the L60 Is as low as 12.1 kWh/100 km.
Helping the low energy consumption is the L60βs drag coefficient which is just Cd 0.229 β better than the Tesla Model Yβs Cd 0.236. Dimensions are 4828, 1930, and 1616 mm and the wheelbase is 2950 mm. Lead designer for the Onvo L60 was former Bentley designer Raul Pires and the L60 incorporates features such as low-drag wheels and hidden door handles.
Externally, the L60βs silhouette takes a similar approach to the Tesla Model Y, which is most likely to help with aerodynamics. There is also similarity with the interior, most notably the fact that the car only has one screen. However, unlike the Tesla, the L60 has a head-up display, and in addition, there is a small 8-inch screen for rear passengers mounted on the back of the center console.
The seats have a 10-layer ergonomic composite structure and utilize a 15 mm thickness composite surface, which Nio alleges can help avoid fatigue over long journeys. Both front and rear seats have a heating function, and in the case of the front passenger seat, there is an extra-long heated calf rest. A mobile app can help achieve the rapid heating of the cockpit from zero to 20 degrees in just 30 seconds. Along with filtering out PM2 .5 the car has a multilayer filtering system which can also work on activated carbon gas and bacteria. A 1.9 square meter panoramic roof can block 99.99% of ultraviolet rays.
Single motor versions of the Onvo L60 come with a 240 kW electric motor mounted on the rear axle with the all-wheel drive versions adding a 100 kW motor to the front axle. Range for the single motor version is either 555 or 525 km and for the dual-motor version range is either 525 or 501 km. Itβs believed that the difference in range is accounted for by whether the car is equipped with 19 or 20-inch wheels.
Sources: Autohome, Fast Technology
