• Onvo begins accepting locked-in orders for the updated L60 today, with deliveries expected to commence in mid-to-late October.
• The updated L60 retains its starting price of RMB 206,900 ($29,080), featuring optimizations in energy efficiency, cabin, and comfort.

Onvo, the mass-market sub-brand of NIO Inc (NYSE: NIO), has launched the updated L60 as the SUV (sport utility vehicle) marks its first anniversary since launch.

Onvo announced today via its mobile app that the updated L60 is now accepting locked-in orders, with deliveries expected to commence in mid-to-late October.

Pricing for the model -- Onvo's first offering -- remains unchanged, with the base price including a 60-kWh standard-range battery pack still set at RMB 206,900 ($29,080).

Under its BaaS (Battery as a Service) plan, the starting price remains RMB 149,900, with battery rental fees starting at RMB 599 per month.

Pricing details for updated Onvo L60

Battery	Motor	Range (km)	Price with battery	Price under BaaS	BaaS battery rental
60-kWh	Single	560	RMB 206,900	RMB 149,900	RMB 599/month
60-kWh	Dual	530	RMB 226,900	RMB 169,900	RMB 599/month
85-kWh	Single	740	RMB 235,900	RMB 149,900	RMB 899/month
85-kWh	Dual	707	RMB 255,900	RMB 169,900	RMB 899/month

Onvo said the updated L60 features multiple experience enhancements in energy efficiency, range, smart cockpit, and comfort.

The brand offers new optional configurations for the five-seat midsize SUV, including exterior colors, wheels, interior trim, and a small table board to meet personalized preferences.

Existing L60 owners can also receive OTA updates to have the enhanced energy efficiency, range, and smart cockpit experience, Onvo said.

Starting today, updated L60 display models are available at Onvo stores across over 100 Chinese cities.

Customers purchasing the L60 on or before September 30 can receive discounts on exterior colors, interior trim packages, and premium wheel options.

Onvo offers a 3-year zero-interest financing plan for the updated L60, along with 5 years of free NOA (Navigation on Autopilot) software usage.

Nio launched the Onvo brand on May 15, 2024, and officially rolled out the L60 on September 19 last year to compete with models including Tesla's (NASDAQ: TSLA) Model Y.

As of the end of August, cumulative L60 deliveries reached 64,458 units, according to data compiled by CnEVPost.

Onvo officially launched its second model, the L90, on July 31, commencing deliveries of the large SUV the following day on August 1.

The L90's popularity upon launch has led to current production capacity constraints for Nio.

Onvo currently appears to be allocating more resources to the higher-priced L90, which starts at RMB 265,800 yuan, while refraining from large-scale marketing for the L60.

In August, Onvo delivered a record 16,434 vehicles, including 10,575 L90s and 5,859 L60s, according to data compiled by CnEVPost.

($1 = RMB 7.1148)