On Thursday, NIO officially launched its new Tesla Model Y competitor, the Onvo L60. Starting at just $21,200 (149,900 yuan), the new NIO electric SUV hits the market at prices cheaper than expected.
NIO officially launched the L60 electric SUV in China on September 19, 2024, marking the debut of its new Onvo mass-market model.
The Onvo L60 is NIO's answer to Tesla's best-selling Model Y as it ventures into new segments. NIO's new electric SUV starts at just 149,900 yuan, or about $21,200.
Starting at less than $22,000, the new mid-size “smart electric family SUV” is cheaper than the pre-sale price, which opened at $30,500 (219,900 yuan) in May. The lowest initial price tag is for the battery subscription model.
With the battery included, the NIO Onvo L60 starts at $29,300 (206,900 yuan), still cheaper than pre-sale prices. That's for a 60 kWh battery model with a range of up to 341 miles (555 km) CLTC.
The larger battery model (85 kWh) is available from $33,400 (235,900 yuan) and has a CLTC range of up to 454 miles (730 km).
NIO Onvo L60 officially launched at cheap prices
At launch, NIO said a 621-mile (1,000 km) range model will be introduced with an expected 150 kWh battery.
For those who choose the battery subscription model, the rental is $85 (599 yuan) for 60 kWh and $125 (899 yuan) for 85 kWh battery per month.
| NIO Onvo L60 vs Tesla Model Y breakers | Distance (CLTC) |
Starting Price |
| NIO Onvo L60 (Battery Rental) | 555 km (341 mi) 730 km (454 mi) |
149,900 yuan ($21,200) |
| NIO Onvo L60 (60 kWh) | 555 km (341 mi) | 206,900 yuan ($29,300) |
| NIO Onvo L60 (85 kWh) | 730 km (454 mi) | 235,900 yuan ($33,400) |
| 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) |
With a length of 4,828 mm, a width of 1,930 mm, and a height of 1,616 mm, NIO's electric SUV will directly compete with Tesla's Model Y (4,750 mm length x 1,921 mm width x 1,624 mm height). NIO says the Onvo L60 sets a “new standard for family cars.”
To prove this, NIO claims that its electric SUV uses energy better than the Model Y (12.1 kWh/100km vs. 12.5 kWh/100km).
Inside, the Onvo L60 is very similar to Tesla's best-selling model. The 17.3″ infotainment is at the center of the display, and the interior is minimalistic. NIO has also included an 8″ screen for the rear passengers.
With a wheelbase of 2,950 mm, the Onvo L60 is longer than Tesla's Model Y (2,890 mm), which means a little more interior room.
On September 1, NIO's Onvo opened 100 stores in 55 cities in China as it prepares to launch its first electric SUV.
Source: CarNewsChina, NIO Onvo weibo
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