乐道Onvo

Who owns Onvo? The ownership chain, NIO's stake and the 2024 deal

Facts checked Chinese holding 100%

Onvo is Chinese. It is NIO's family-car brand, launched in 2024 to sell below the NIO badge while sharing the same battery-swap network.

NIO Inc. launched Onvo as its second marque on 15 May 2024, opening pre-sales of the L60 SUV at RMB 219,900 the same day. Onvo is a brand of NIO Inc., not a separate company with outside shareholders, and NIO reports its deliveries within its own totals.

The short answer

Controlled by NIO
Stakenot published
Since15 May 2024
Kindbrand
OriginCN
Name in Chinese 乐道 Lèdào “LUH-dow”
Top of the chainL'imad
Is it Chinese? Yes

The chain, step by step

  1. L'imad owns CYVN Holdings at 100% since January 2026.

    L'imad wholly owns CYVN Investments, the entity that holds the NIO shares, following the January 2026 reorganisation of Abu Dhabi's holdings.

  2. CYVN Holdings holds a stake in NIO at 20.1% since 27 December 2023.

    CYVN Investments RSC Ltd of Abu Dhabi built its holding through an investment of about US$1.1 billion completed in July 2023 and a US$2.2 billion share subscription that closed on 27 December 2023 under an agreement dated 18 December 2023. Its Schedule 13D/A filed on 28 February 2024 reports 418,833,157 NIO Class A ordinary shares as of 26 February 2024 — 21.7% of the Class A shares and about 20.1% of all ordinary shares outstanding — with sole voting power over all of them. CYVN appointed two directors to NIO's board on 7 February 2024.

  3. NIO controls Onvo since 15 May 2024.

    NIO Inc. launched Onvo as its second marque on 15 May 2024, opening pre-sales of the L60 SUV at RMB 219,900 the same day. Onvo is a brand of NIO Inc., not a separate company with outside shareholders, and NIO reports its deliveries within its own totals.

Every holding above this entity, with the stake and the date it began.
Holder Holds Kind Stake Since
L'imad CYVN Holdings owns 100% January 2026
CYVN Holdings NIO holds a stake in 20.1% 27 December 2023
NIO Onvo controls controls 15 May 2024

Onvo: questions people ask

What is Onvo?
Onvo is the second car brand of NIO Inc., launched on 15 May 2024. It sells family-sized battery-electric cars priced below NIO's own models, starting with the L60 SUV.
Who owns Onvo?
NIO Inc. Onvo is one of NIO's three marques, alongside NIO itself and the small-car brand Firefly; it is not a separate company with its own outside shareholders.
What does Onvo mean in Chinese?
The Chinese name is 乐道 (Lèdào): 乐 is 'joy' and 道 is 'way' or 'road', so roughly 'the joyful road'. The Latin word Onvo is coined and has no separate meaning.
Is Onvo sold outside China?
Barely. It is sold mainly in China; NIO has announced Onvo for distributor-run markets including Uzbekistan and Costa Rica. It has never been sold in the United States.

Related

Sources for Onvo

  1. CnEVPost, Nio formally launches Onvo sub-brand, 1st model L60 starts pre-sale. Read .
  2. CnEVPost, Nio Dec 2025 deliveries: Nio brand 31,897, Onvo 9,154, Firefly 7,084. Read .
  3. NIO, NIO Achieves 100 Million Battery Swaps. Read .
  4. CnEVPost, Nio plans expansion into Singapore, Uzbekistan and Costa Rica. Read .
  5. Wikipedia, List of automobile manufacturers of China. Read . Onvo listed as a NIO brand.
  6. CnEVPost, Abu Dhabi merges CYVN's stake in Nio into new state-owned fund L'imad. Read .
  7. CYVN Investments RSC Ltd / U.S. Securities and Exchange Commission, Schedule 13D/A (Amendment No. 3) — NIO Inc., filed by CYVN Investments RSC Ltd. Read .
  8. NIO Inc. / U.S. Securities and Exchange Commission, NIO Inc. Provides December, Fourth Quarter and Full Year 2025 Delivery Update (Form 6-K, Exhibit 99.1). Read . NIO reports ONVO deliveries as one of its three brands.