Nio Crushes Tesla Model Y Price with New Value Brand Onvo L60 | Car Scoops - Latest Global News

Nio Crushes Tesla Model Y Price with New Value Brand Onvo L60 | Car Scoops

Nio’s new mass-market brand has Tesla firmly in its sights and is hitting the mark

    Nio destroys Tesla Model Y price with new value brand Onvo L60

  • Onvo today unveiled its first-ever vehicle, the L60, to take on Tesla.
  • The Nio sub-brand was created to give the Chinese automaker the ability to sell more affordable electric vehicles.
  • Pre-orders for the model began today in China and the L60 will cost around $4,000 less than a Model Y.

Chinese electric vehicle maker Nio has decided it needs a value-focused sub-brand, and the first model it introduced, the Onvo L60, could unsettle Tesla. The model presented today will cost significantly less than the Model Y and will also be more energy efficient than the American electric vehicle.

Pre-orders for the L60 opened today (delivery begins in the third quarter of the year) and prices start at 219,900 RMB (around $30,500 at current exchange rates). In contrast, the cheapest Model Y that Tesla offers in China starts at 249,900 RMB (around $34,600).

Read: Nio’s new mass-market Onvo EV brand takes aim at Tesla

In addition to undercutting the American electric vehicle by RMB 30,000 (around $4,100), Onvo claims the L60 will use just 12.1 kWh of electricity per 100 km (62 miles), while the Tesla will use 12, 5 kWh consumed.

This efficiency is thanks in part to the L60’s remarkable drag coefficient of 0.229 (the Model Y’s coefficient is only slightly higher at 0.23) and means the Extra Long Range variant of Onvo’s new SUV can travel over 621 miles ( 1,000 km) per charge in the CLTC cycle. Although the official figure has not yet been released, it is likely that it will be surpassed in this regard by the Tesla, whose longest range model on the CLTC cycle is 688 miles (1,107 km).

However, once the battery runs out, drivers can get back on the road in just three minutes as Onvo’s vehicles share battery swapping technology with Nio. Even if a driver needs to recharge the battery instead of swapping it, that should be quick thanks to the L60’s 900V architecture. In the standard range configuration, the L60 can travel 345 miles (555 km) on a single charge, and the Long Range model will be able to reach 454 miles (730 km) on a single charge.

Onvo hasn’t revealed official details about the L60’s interior yet, but Autohome and other Chinese media have reported that it features a 17.2-inch infotainment screen and a 13-inch head-up display for the driver and the advanced driver assistance systems will borrow from Nio. It will also feature an “ingenious storage design” that will allow “each occupant to bring their own luggage.”

After its launch in China, Onvo plans to export the L60 to global markets, including Europe, in late 2024.

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