Chinese electric vehicle manufacturer Nio launched its inaugural vehicle under the new budget-friendly brand, Onvo, positioning itself to challenge Tesla’s Model Y, the global leader in EV sales.

Nio revealed the Onvo L60 SUV, priced competitively from 219,900 yuan ($30,476), representing a 12% reduction compared to Tesla’s Model Y starting price of 249,900 yuan in China.

With deliveries of the Onvo L60 slated to commence in September, Nio aims to capture a significant market share in the rapidly evolving EV landscape.

Nio Onvo L60 Design and Interior 

Crafted by Raul Pires, the visionary behind the original Bentley Continental GT, the Onvo L60 shares striking similarities with the Tesla Model Y upon initial inspection.

However, subtle differentiators distinguish it, such as a longer body, higher-positioned front side lights, and narrower tailgate lines with sleeker lights.

Notably, the L60 boasts star-designed alloys that exude a heightened allure compared to its counterparts.

The interior design of the Onvo L60 is similar to the Tesla Model 3 and Model Y, with a dashboard-less design and no physical buttons. The central console is equipped with a 17.3-inch 3K display.

Nio Onvo L60 EV Specifications

Ai mentioned that Onvo cars will benefit from over 1,000 battery swapping stations and 25,000 public chargers provided by Nio.

Additionally, Li stated earlier that the bill of materials for the Onvo car would be 10% lower compared to Tesla’s Model Y, as reported by Chinese media.

This cost advantage, combined with Nio’s EV battery rental program, positions Onvo to compete more effectively at a lower price point.

Launching the Onvo brand positions Nio competitively within China and opens avenues for expansion beyond its domestic market.