Nio's Onvo L60 starts deliveries at lower price than Tesla Model Y

20 September 2024

Nio's sub-brand Onvo's inaugural model, the L60, has officially gone on sale. This mid-size SUV comes at an attractive price point, positioning itselft as a formidable contender against the Tesla Model Y.

Nio's CEO, William Li, envisioned Onvo as a disruptor in the mass market segment. The L60's starting price of RMB 206,900 (approximately $29,260) significantly undercuts the Tesla Model Y's current starting price of RMB 249,900 ($35,350) in China.

Onvo's embrace of Nio's battery swap technology, coupled with a battery-as-a-service (BaaS) model, allows customers to purchase the vehicle without the battery, reducing the upfront cost down to RMB 149,900 - that's roughly $21,200 at current exchange rates. In this case, the smallest 60 kWh battery costs RMB 599 per month, or $85.

The L60 impresses still stands at formidable 190.1 inches in length, 76 inches in width, 0 inches in height, so it's actually larger than the Tesla Model Y. Additionally, it's the first model under the Nio umbrella to utilize the NT 3.0 platform, which uses a 900V high-voltage architecture for enhanced energy efficiency. While it doesn't incorporate LiDAR like Nio's flagship models, it employs a 4D imaging mmWave radar and an Nvidia Orin X chip for its assisted driving capabilities.

Onvo's focus on aerodynamics is evident in the L60's sleek design, achieving a drag coefficient of Cd 0.229, contributing to its impressive energy consumption of as low as 12.1 kWh per 62 miles. The L60 is available with two battery pack options: a standard-range 60 kWh pack with a CLTC range of 345 miles and a long-range 85 kWh pack offering a CLTC range of 454 miles. An ultra-long-range battery pack with a potential range of 620 miles is also in the pipeline.

The L60 offers both single-motor and dual-motor configurations. The single-motor rear-wheel-drive variant delivers a peak power of 240 kW and a peak torque of 305 Nm, enabling it to accelerate from 0 to 62 mph in a brisk 5.9 seconds. For those looking for a more exhilarating performance, the dual-motor four-wheel-drive variant boasts a combined peak power of 340 kW and a peak torque of 440 Nm, propelling the L60 from 0 to 62 mph in a swift 4.6 seconds.

Customers who place a deposit on or before October 8 will gain access to exclusive perks, including five years of free access to the full-scenario pilot assist driving feature NOA, battery rental fee waivers for those opting for the BaaS model, complimentary battery swap services, and limited-time discounts on premium paint colors and 20-inch wheels.

With deliveries slated to start on September 28, the Onvo L60 marks a significant step for Nio in its quest to expand its market reach and offer compelling electric vehicles at competitive prices. The brand's ambitious sales targets and its rapidly expanding retail network are a clear sign of its confidence in the L60's potential.

Via