[City, Date] — Nio’s secondary brand, Onvo, has unveiled an ambitious plan to establish more than 300 battery swapping stations each month, with the goal of offering over 1,000 stations by the end of the year. This initiative is designed to provide Onvo vehicle owners, particularly those driving the upcoming Onvo L60, with a reliable and extensive battery swapping infrastructure.
The expansion will focus on covering highways across nine vertical and nine horizontal routes, as well as 19 major urban areas. The objective is to ensure that Onvo owners have easy access to battery swapping and energy replenishment services, facilitating seamless travel and enhancing convenience.
Onvo’s L60, the brand’s first vehicle, is engineered to operate exclusively with Nio’s fourth-generation battery swap stations. As part of the expansion, new fourth-generation stations will be constructed, and existing third-generation stations will be upgraded to accommodate the Onvo L60.
This strategic move is crucial for Nio and Onvo as they aim to strengthen their market presence and ensure the successful deployment of the Onvo L60.
In addition to the physical expansion, Onvo has launched the “Onvo Battery Swapping Wishlist” campaign. This interactive initiative allows users of the Onvo app to select three preferred locations for new battery swapping stations. The campaign, running until September 3rd, is designed to gather user input to guide the deployment of future stations, aligning the infrastructure with user demand and preferences.
The Onvo L60 SUV is expected to debut in late September, with production beginning at the end of the month. Deliveries and test drives will be available immediately following the launch event, giving customers the opportunity to experience the vehicle firsthand.
Built on a 900V silicon carbide platform, the Onvo L60 will feature Nio’s innovative Battery as a Service (BaaS) leasing scheme, allowing users to lease batteries separately from the vehicle. This scheme aims to reduce the upfront cost of the vehicle and offer flexibility for battery upgrades or replacements.
The Onvo L60 comes with a 60 kWh battery pack, offering a CLTC range of up to 555 km in the single-motor configuration. The dual-motor version provides a range of 525 km or 501 km, depending on wheel size. This range variation underscores the customization options available to consumers, enabling them to choose configurations that best suit their driving needs.
Nio’s decision to launch Onvo as a sub-brand follows previous unsuccessful partnerships with GAC and Changan. Nio CEO William Li has expressed high expectations for Onvo’s success, particularly with the L60, which is compatible with both Nio’s fourth-generation and modified third-generation swap stations. This compatibility ensures broad access to battery swapping facilities, enhancing the vehicle’s appeal to a wider audience.
As of July 31st, Nio had already established 820 highway power swap stations in China, delivering over 49.6 million battery swaps, 44.1 million charging services, and 29.6 million flexible battery upgrades. These figures highlight the significant demand and reliance on battery swapping technology among Nio’s user base.
Battery swapping is a key component of Nio’s business model, offering drivers the convenience of quick refueling while avoiding the long charging times associated with traditional EV chargers. Additionally, swapping stations help mitigate battery degradation, extending the lifespan of the batteries and maintaining optimal performance.
Each battery swapping station represents a substantial investment, with an estimated cost of 3 million yuan ($419,000). Despite the significant financial commitment, Nio estimates that each station can break even with 60 swaps per day. Currently, 41.4% of Nio drivers prefer using swap stations, indicating strong user acceptance of this service.
Onvo’s aggressive network expansion reflects Nio’s commitment to enhancing its service offerings and supporting the growth of its sub-brand in the increasingly competitive electric vehicle market.