On June 26, ONVO announced the delivery of its 100,000th L60 in Shanghai. Since deliveries began on September 28, 2024, the mid-size battery electric SUV, positioned in China’s RMB 200,000 ($29,400) segment, has reached the milestone in less than two years. ONVO hits 100,000 deliveries The L60’s delivery ramp has been relatively measured but consistent. According to the company, cumulative deliveries have placed the model among the top three battery electric SUVs in its segment. On June 11, ONVO launched the 2026 L60 with a starting price of RMB 192,800 ($28,300). Under NIO’s Battery-as-a-Service (BaaS) battery subscription scheme, the entry price falls to RMB 135,800 ($19,960). ONVO’s growth has come alongside a broader restructuring within the NIO ecosystem. As early as February last year, NIO merged the delivery operations of its NIO and ONVO brands, allowing them to share personnel and service networks. ONVO L60 In May of the same year, ONVO and Firefly were brought under unified group management, integrating core functions including research and development, sales, and after-sales service. The market has long debated whether ONVO is simply a lower-priced version of NIO. ONVO President Shen Fei recently said that perception largely stems from early market misunderstandings. According to Shen, most ONVO customers are not budget-constrained buyers, but rather mid-level corporate professionals who place greater emphasis on interior space, premium appeal and family-oriented practicality. Shen has repeatedly compared the relationship between NIO and ONVO to that of Audi and Volkswagen, or Lexus and Toyota, arguing that the brands target different customer segments rather than representing premium and entry-level versions of the same products. While the NIO sub-brand focuses on the premium market, ONVO is positioned to compete in the mainstream family vehicle segment. ONVO L60 Both brands share the same quality management system, vehicle engineering, battery technology and service infrastructure. ONVO’s product rollout has accelerated in 2026. The updated L90 was launched in April, followed by the debut of the L80 in May and the refreshed L60 in June, giving the brand a three-model lineup covering a wider range of family mobility needs. Sales have also gained momentum. In May 2026, ONVO delivered 12,029 vehicles, up 91.5% year-on-year and 124.8% from the previous month, accounting for nearly one-third of NIO Inc’s total deliveries of 37,705 vehicles. On the same day, NIO also announced that cumulative deliveries of its flagship ES9 SUV had surpassed 10,000 units just 30 days after launch.