Chinese EV Maker Nio launches

Onvo L60

Electric SUV

On Wednesday, Chinese electric vehicle manufacturer Nio launched its inaugural vehicle under the new budget-friendly brand, Onvo.

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At first glance, the Onvo L60 closely resembles the Tesla Model Y. However, it stands out with a longer body, higher front side lights, and narrower tailgate lines with sleeker lights.

DESIGN

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

Charging Station

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. 

Price

Chinese media report that the Onvo car will be 10% cheaper than Tesla’s Model Y. This cost advantage, along with Nio’s EV battery rental program, makes Onvo highly competitive.