Nio’s (NIO) Hong Kong-listed shares (HK:9868) surged 8.7% on Wednesday, while the U.S.-listed shares rose about 2% (as of writing) after the Chinese electric vehicle (EV) maker unveiled its L80 SUV (sport-utility vehicle) under the Onvo sub-brand. At a starting price (with battery pack) of 245,800 yuan ($35,940), the new model, which is priced below the L90 SUV, sparked investor optimism about Nio’s sales momentum.
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More on Nio’s L80 Debut
The price of the Onvo L80 is about 7.5% lower than the L90 SUV’s starting price of 265,800 yuan. Nio is expanding its Onvo sub-brand product portfolio with the L80 model and has opened pre-sales for the large five-seat version ahead of its official launch on May 15.
Nio will commence user test drives for the Onvo L80 on May 1 at all its stores nationwide. The new model will be officially rolled out on May 15, marking the second anniversary of the Onvo brand’s launch.
The new model is part of Nio’s strategy to boost sales amid intense competition in China’s EV market. The company highlighted L80’s key advantages in space utilization. Nio expects Onvo L80 and the upcoming Nio ES9 flagship SUV to drive sales in the months ahead.
It is worth noting that Nio turned profitable for the first time in Q4 2025. With several model launches lined up for 2026, analysts expect the Chinese EV maker to continue improving its profitability.
Is NIO a Good Stock to Buy Now?
Currently, Wall Street has a Moderate Buy consensus rating on Nio stock based on six Buys, two Holds, and one Sell recommendation. The average NIO stock price target of $6.50 indicates that shares are fully priced at current levels, following a 29% year-to-date rise.
