Chinese electric vehicle (EV) manufacturer NIO is gearing up to launch production at its third factory in Hefei, Anhui province this September, as announced by company founder, chairman, and CEO William Li. The news was reported by CnEVPost, confirming the timeline previously mentioned by Li during NIO’s June earnings call.
During a recent tour of NIO’s second Hefei plant, attended by influential figures such as Chinese writer and ET9 owner Wu Xiaobo and nearly 100 entrepreneurs, Li reiterated the production schedule for the new factory, known as F3. This facility will primarily focus on supporting NIO’s budget-friendly Onvo sub-brand, with production lines capable of operating double shifts if necessary. Pre-sales for Onvo’s flagship SUV, the L90, are set to commence on July 10.
A key detail revealed by Li during the event was the pricing of the L90, which will start below RMB 300,000 (approximately $41,870 USD). This move comes amidst intensifying competition in China’s EV market, prompting automakers to offer competitive pricing to attract customers. Li emphasized the importance of staying competitive in the market by stating, “The starting price for the L90 will definitely be under 300,000 yuan — there’s no way else; we all have to go all out now.”
The Onvo L90 is a large SUV designed to rival competitors like the Tesla Model Y and domestic automakers such as Li Auto L9. It made its debut at the 2025 Shanghai Auto Show, showcasing impressive storage options, including an ultra-large frunk. This launch will mark the first vehicle introduction under new Onvo brand president Shen Fei, who took over from Alan Ai earlier this year. Shen has hinted that the L90 is ready for delivery, signaling an imminent launch.
With a strategic pricing approach and the upcoming launch of its new factory, NIO is positioning Onvo to compete effectively in China’s increasingly crowded EV market. By offering a compelling product at a competitive price point, the company aims to carve out a significant market share and establish itself as a key player in the evolving electric vehicle industry.