The Onvo L80 has officially begun deliveries in China, marking a new chapter for Nio Inc's sub-brand. The large five-seat SUV is expected to compete fiercely with models from BYD and Li Auto.
Deutsche Bank analysts expect the sales trajectory of the newly launched L80 to mirror that of the L90 three-row SUV, which has already delivered over 10,000 units in its first three months.
The Onvo L80's initial production ramp-up is expected to reach a monthly sales volume of about 10,000 units, with the sales volume expected to normalize to around 4,000 units per month as more competitor products hit the market.
As the Onvo L80 enters the Chinese market, it will directly compete with similarly priced models such as Li Auto's Li i6 and BYD's Tang L EV.
The Onvo L80 shares the same platform and dimensions as the L90, measuring 5,145 millimeters in length with a wheelbase of 3,110 mm.
To cater to different budgets, the L80 offers three trim levels, including a base version equipped with Nvidia's Orin X chip and higher-end versions featuring LiDAR and Nio's in-house developed Shenji NX9031 chip.
Deutsche Bank estimates that Nio Inc's order flow in May has been stable, with sales volume expected to remain consistent month-on-month.
The Onvo brand is boosting its market share through intensive product launches, including the facelifted L60 mid-size SUV, which is expected to begin pre-sales on May 29.
With its competitive pricing and feature-rich lineup, the Onvo L80 is poised to make a significant impact in the Chinese electric SUV market.
The Onvo L80's success will be closely watched as it mirrors the sales trajectory of its sibling model, the L90.
