NIO Gives Its Model Y Nemesis LiDAR Vision — Wallet-Friendly Price Tag Unchanged

• According to a report from the CnEVPost, the new Onvo L90 introduces a LiDAR sensor for the first time to enhance assisted driving capabilities in addition to other software and hardware updates.
• Deliveries of the updated vehicle are slated to start on May 9.
• Onvo has delivered about 50,000 units of the three-row SUV vehicles as of early-April.

Chinese EV maker Nio Inc (NIO) on Tuesday launched the updated version of its Onvo L90 SUV which has seen significant demand after its initial version was launched last year.

The 2026 model year Onvo L90 starts at RMB 265,800 ($38,964), including the battery, same as its model year 2025 version. If customers choose to rent the battery instead, they can purchase the vehicle for RMB 179,800. In comparison, Tesla’s mass market three row SUV available in China, called the Model Y L, starts at RMB 339,000.

According to a report from the CnEVPost, the new variant introduces a LiDAR (Light Detection and Ranging) sensor for the first time to enhance assisted driving capabilities in addition to other software and hardware updates. Deliveries of the updated vehicle are slated to start on May 9.

Meanwhile, Tesla CEO Elon Musk has often dismissed the use of LiDAR for assisted driving, opining that camera or vision-only inputs can serve the purpose with efficiency.

Nio’s Onvo Success

Nio launched Onvo as a sub-brand catering to the mass market in 2024 unlike its namesake brand which makes luxury EVs. The company’s first vehicle was the L60, followed by the L90 which was launched in July 2025. Onvo has delivered about 50,000 units of the three-row SUV vehicles as of early-April.

Nio is now looking forward to launching its third Onvo brand vehicle, called the L80, in the second quarter. L80 is a five-seat SUV unlike the L90 which is targeted at larger families.

“With an expanding product lineup and continuous product upgrades, the ONVO brand will deliver the finest mobility experiences to more family users, driving steady sales growth,” Nio CEO William Li said in March .

How Did Retail Traders React?

On Stocktwits, retail sentiment around NIO stock stayed within the ‘neutral’ territory over the past 24 hours, while message volume remained at ‘high’ levels. Retail chatter around NIO has risen 162% over the past day, platform data shows.

A user opined that high gas prices would spur Nio’s EV sales in China, terming NIO stock a “screaming buy.”

Another voiced hope for positive announcements from the company turning the stock back into the green territory after it closed down 3% on Tuesday.

According to data from Koyfin, 16 of the 25 analysts covering NIO rate it ‘Buy’ or higher while seven rate it Hold and 2 rate it Sell or Strong Sell. The 12-month average price target on the stock is $6.58, representing a potential upside of about 2% from last close.

NIO stock has gained about 79% over the past 12 months.

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