4 Unknowns about Nio's ONVO L60 amid to be launched in late September
$NIO Inc (NIO.US)$ $Tesla (TSLA.US)$ $BYD COMPANY (01211.HK)$ $XPeng (XPEV.US)$ The article reported that Onvo President Ai Tiecheng announced an official time table to launch. The Onvo L60, the brand’s first model, is set to launch in late September, slightly later than previous reports of a September 10 release. Despite the hype created by NIO, there are important details unknown about this new model:
1) Onvo Selling price is unknown
The L60 first debuted just this past May, with a preorder price of $30,460 to boot. This isn’t likely the full price of the vehicle, but rather the cost to reserve a vehicle upon launch.
2) Onvo driving capacity and interior design are unknown
There’s still even more unknown about the electric vehicle (EV), however, including its driving capacity in terms of miles per charge and even its interior design. Though according to Tiecheng, the brand will show off the inside of the car within the next month.
3) Onvo pre-order is unknown
There's unofficial information that the vehicle pre-order is "far beyond expectations" but the president failed to give any figure when questioned during the "Onvo official unveils event" in May. Read here: https://m.sohu.com/a/779524298_100202083/?pvid=000115_3w_a
![4 Unknowns about Nio's ONVO L60 amid to be launched in late September](https://sgsnsimg.moomoo.com/sns_client_feed/101709443/20240801/1722487545690-random4507-101709443-android-org.jpeg/big?area=101&is_public=true)
4) Onvo vehicle profit margin is unknown
Nio reported in the Q1 earnings that gross margin was 4.9% down compared to 7.5% in Q4 2023 and vehicle margin of 9.2% down compared to 11.9% in Q4 2023. Despite the company claiming that the vehicle will "beat" Tesla Model Y, it didn't provide any data about the vehicle margin. The CEO said "Onvo will contribute positively to Nio's 'P&L' when it reaches 20,000 monthly sales" but didn't provide a timeline when it will reach the target given at Nio total delivery in Q1 2024 is only 30,053 -3.18% YoY and -39.95% QoQ.
My Take: Nio's CEO is giving unrealistic sales forecasts of Onvo. The share price remains bearish which reflects retail investors are waiting for concrete data not unrealistic forecast or vague comments. Nio share price is -47% YTD and -69% a year ago.
![4 Unknowns about Nio's ONVO L60 amid to be launched in late September](https://sgsnsimg.moomoo.com/sns_client_feed/101709443/20240801/1722487546243-random883-101709443-android-compress.jpg/big?area=101&is_public=true)
Source:
$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$ $Rivian Automotive (RIVN.US)$ $MERCEDES-BENZ GROUP AG (MBGAF.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $GEELY AUTO (00175.HK)$ $Stellantis NV (STLA.US)$
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