NIO is expanding into Tesla’s territory with its new mass-market Onvo brand. The brand’s first model, the Onvo L60, will take on Tesla’s best-selling Model Y. Starting at around $30,000 (219,900 yuan), NIO’s new electric SUV undercuts the Model Y by about $4,000 (30,000 yuan) in China. With the first batch of stores opening next week, NIO looks to get new Onvo models out quickly.
After unveiling the Onvo L60 in May, deliveries are right around the corner. The first models rolled out of assembly at NIO’s F2 plant earlier this month as buyers eagerly await.
CEO William Li said NIO’s Onvo L60 will compete with best-selling, mass-market models like the Toyota RAV4 and Tesla Model Y.
With pre-sale prices starting at just $30,500 (219,900 yuan), NIO is aiming for the market’s sweet spot. The Onvo L60 is cheaper than Tesla’s Model Y in China, which starts at around $34,600 (249,900 yuan).
Meanwhile, with the option to lease the battery, as NIO does with other models, the L60 could be even more affordable.
At 4,828 mm long, 1,930 mm wide, and 1,616 mm tall, NIO’s electric SUV is nearly the same size as the Model Y (4,750 mm long X 1,921 mm wide X 1,624 mm tall).
NIO is opening over 100 Onvo stores next week
NIO claims its new electric SUV sets “a new standard for family cars.” It even said the Onvo L60 has better energy consumption than Tesla’s top-seller (12.1 kWh/100km vs. 12.5 kWh/100km).
According to NIO, the Onvo L60 has the world’s lowest wind resistance of any production SUV at just 0.229 Cd.
Ahead of deliveries, NIO’s Onvo announced it will open over 100 stores on September 1, where the L60 will be open to the public for the first time.
Top comment by Geoferret
If they could somehow figure out how to build this in North America and qualify for the full tax credit through meeting battery sourcing requirements, and still retain that $30,500 MSRP... that's the game. With dealers able to provide the tax credit up front, this car would cost $23k. EV adoption will really take off like Nio's 0-60 time once a quality EV like this sells for that price.
After our first look at the electric SUV’s interior, we saw that the L60 features a very similar setup to Tesla’s Model Y.
The big 17.3″ infotainment screen is in the center of the otherwise minimalist interior. NIO refers to it as an “Urban Oasis AI Smart Cockpit.”
| NIO Onvo L60 vs Tesla Model Y trims | Range (CLTC) | Starting Price |
| NIO Onvo L60 (60 kWh) | 555 km (341 mi) | 219,900 yuan ($30,500) |
| NIO Onvo L60 (90 kWh) | 730 km (454 mi) | TBD |
| NIO Onvo L60 (150 kWh) | +1,000 km (+621 mi) | TBD |
| Tesla Model Y RWD | 554 km (344 mi) | 249,900 yuan ($34,600) |
| Tesla Model Y AWD Long Range | 688 km (427 mi) | 290,900 yuan ($40,300) |
| Tesla Model Y AWD Performance | 615 km (382 mi) | 354,900 yuan ($49,100) |
Can NIO’s new low-cost electric SUV compete with Tesla’s Model Y? Let us know your thoughts in the comments.
Source: CnEVPost, NIO Onvo
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