Nio Launches Budget-Friendly Onvo Brand to Challenge Tesla

Nio Launches Budget-Friendly Onvo Brand to Challenge Tesla’s Model Y

Popular Chinese EV maker Nio introduced its first vehicle under the new budget-friendly brand, Onvo on Wednesday.

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The new arm of the brand aims to compete with Tesla’s Model Y which is among the best-selling electric car in the world

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[{"selector":"#anim-1ea5b62f-0dda-41cc-ab30-30690cffca25 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-70f8d71c-9c27-496a-82e6-d0d8dc942c66","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-87561d2f-e81b-4225-a749-729698e4a09a","keyframes":{"transform":["translate3d(-92.66247%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Named the Nio Onvo L60, the e-SUV starts at 219,900 yuan ($30,476) which is about 12% less than the Tesla Model Y’s starting price of 249,900 yuan in China. Nio stated the delivery timeline for its Onvo L60 set to begin in September, 2024.

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[{"selector":"#anim-dd41de71-548e-44f9-8c88-87ad448e50eb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-11793136-0a7f-442e-9619-56b518110eae","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f16f1394-a987-4fd2-bf39-4b8303d8cb5e","keyframes":{"transform":["translate3d(-92.66247%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The new Onvo L60 is designed by Raul Pires, the mind behind the Bentley Continental GT. The new Onvo L60 has notable similarities to the Tesla Model Y but with distinct differences.

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