Nio Stock Soars In Hong Kong After Rolling Out Updated L60 SUV To Take On Tesla’s Model Y

Nio’s Hong Kong stock rose to its highest levels in nearly a year after the company’s mass-market sub-brand Onvo launched the updated L60 SUV to mark its first anniversary, with orders now open and deliveries set for mid-to-late October.

In Hong Kong mid-day trading, Nio’s stock climbed 5.7% to HK$59.35, reaching its highest level in nearly a year. Meanwhile, in the U.S., the shares snapped a five-day winning streak to close down 1.1% at $7.37 on Thursday, before edging 0.2% higher after hours.

The updated model's prices remain unchanged, starting at 206,900 yuan ($29,080) for the 60-kWh battery pack or 149,900 yuan under Nio's Battery-as-a-Service (BaaS) program. Monthly rentals start at 599 yuan, CnEVPost reported.

The batteries for the car are either 60-kWh or 85-kWh, paired with either a single or dual-motor, with driving ranges of between 530 km and 740 km. The top-end model costs 255,900 yuan.

The updated L60 adds improvements in efficiency, range, smart cockpit, and comfort, alongside new optional colors, wheels, trims, and a small table board. Existing owners can receive OTA updates for efficiency, range, and smart cockpit upgrades. 

Display models are available at over 100 Onvo stores, with early buyers through September 30 eligible for discounts on colors, trims, and premium wheels. The L60 also comes with three years of zero-interest financing and five years of free NOA (Navigation on Autopilot) software.

Launched in September 2023 to compete with Tesla’s Model Y, the L60 has delivered 64,458 units as of August, including 5,859 in August alone. Onvo introduced its second model, the larger L90 SUV, on July 31, and delivered 10,575 units in August, contributing to a record 16,434 monthly sales. 

With demand for the 265,800-yuan L90 surging, Onvo is currently allocating more resources to the new model while scaling back marketing for the L60.

On Stocktwits, retail sentiment for Nio was ‘bullish’ amid ‘normal’ message volume.

Nio’s U.S.-listed stock has risen 69% so far in 2025, outpacing Tesla and even the benchmark indices.

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