Nio (NIO, Financials) just hit a major milestone; its 800,000th vehicle rolled off the line this week and it’s not just any car. The landmark model is the L90 SUV from Onvo, Nio’s new sub-brand aimed at the family EV market.
Built at the F1 factory in Hefei which Onvo currently shares with Nio the L90 is set to launch officially on July 31; first deliveries begin the very next day. Pre-orders opened earlier this month starting at RMB 279,900 ($39,040); with the battery rental plan, buyers can get in at RMB 193,900 a strategy that’s become common in China’s highly competitive EV market.
CEO William Li said the 800,000th unit isn’t just a milestone it’s a launchpad. Nio is now aiming for the big 1 million mark; the company plans to scale up fast with its new F3 factory coming online in September.
The L90’s production line shows how far Nio’s tech has come. It uses the company’s new AI-powered Tiantan self-inspection system, which runs over 1,000 quality checks in just three minutes; the line also features advanced mixed-material manufacturing combining aluminum and ultra-strong steel for a lighter, safer frame.
Test drives started this week; nearly 600 demo vehicles are now spread across more than 400 Onvo showrooms in 140 cities. And while the L90’s pricing may dip further at launch a common move to undercut rivals the buzz has already begun.
This article first appeared on GuruFocus.