Overview

• The Onvo L90 attracted between 30,000 and 35,000 pre-orders within four days of its mid-July pre-sale launch in Hefei, China.
• Hong Kong-listed shares of Nio climbed 11% following the strong intake, with Morgan Stanley calling the stock a high-upside call option.
• The three-row SUV is priced at RMB 279,900 fully equipped or RMB 193,900 under the Battery-as-a-Service subscription.
• Insurance registration data show a seasonal slowdown with Onvo’s weekly sales at 1,140 and Nio-brand registrations at 2,410, their weakest levels since April.
• Nio plans to officially launch the Onvo L90 at the end of July, begin deliveries on August 1, and roll out a five-seat L80 variant in the fourth quarter.