NIO confirms its new codename ‘Alps’ sub-brand is called ‘Onvo,’ and will target EVs for families

Days after leaked spy images revealed a new EV nomenclature, NIO has publicly confirmed its upcoming sub-brand will be called “Onvo.” Previously codenamed “Alps,” Onvo EVs will be designed and targeted toward customers with families. We’ve also caught wind of the new brand’s official launch date.

While EV specialist NIO ($NIO) continues to expand its portfolio of luxury passenger vehicles, battery swap stations, and global reach of its own brand, it has simultaneously been working to develop and implement not one but two new all-electric sub-brands aimed at different customer segments.

Up until recently, of coverage of the new NIO brands has consisted of codenames: Alps and Firefly. The first of which has gotten more coverage since the Chinese automaker is closer to officially launching it. The more affordable Firely sub-brand is expected to launch in China and Europe in 2025.

Alps, however, will also join markets in the EU but is much closer to arriving on the scene. During NIO’s Q4 2023 report, company CEO William Li confirmed the new Alps brand would launch in Q2 2024, beginning with a crossover EV to compete against the Tesla Model Y.

Since then, camouflaged images of the EV, codenamed DOM, have leaked, showing a very similar design to the Model Y. Earlier this week, Chinese media outlets posted non-camo’d images of the new crossover along with a new brand name and model – The Onvo L60.

NIO has now publicly confirmed the new brand name and shared insight on when the new EV will launch and what it will offer customers when it arrives.

NIO’s new brand is called Onvo, or Ledao

According to a report by CnEVPost, NIO has confirmed the new Alps brand is officially called “Ledao,” or “Onvo” in English, and the DOM EV is the L60. NIO founder, chairman, and CEO William Li said the Chinese automaker is not seeking litigation against the third-party supplier that leaked the non-camo’d images to social media but instead criticized their photography skills.

Li said the spy photos make the incoming L60 look ugly and that it is “actually quite beautiful.” The new Tesla Model Y competitor appears to have dropped LiDAR sensors in favor of vision cameras on both sides of the windshield. Li has also previously stated that the L60 will cost 10% less than the Model Y and offer unique features like a refrigerator, TV, or large sofas.

The NIO CEO also explained that the new Onvo brand will cater to families in the mass market but is not necessarily a low- to mid-range EV brand. Instead, Onvo will offer EVs in the RMB 200,000-300,000 price range ($27,800-$41,700), positioned just below NIO vehicles. Li elaborated:

What is the most important thing for a family? The first one, is to be happy and joyful. The second, is to care about the cost and the cost of use. These two points add up to having a happy family and managing the family well.

Every road a family takes together is a happy road, and that’s what its name means.

Lastly, Li confirmed the new NIO sub-brand will officially launch in Q2 2024, with the launch of the L60 to happen in Q3, followed by initial deliveries before the end of the year. The L60 will sit atop NIO’s new NT3 EV platform and have battery swap capabilities.