Ever since the Tesla Model Y rose to prominence as the best-selling EV on the planet, plenty of new and compelling alternatives have been touted as rivals for it and yet, none of them have taken the crown. Nio, however, believes its L60 from the mass-market Onvo brand could change that narrative, launching it at an aggressively competitive price. Not content with merely nudging Tesla, Nio has further reduced its price from the already enticing 219,900 yuan (US$ 31,200) announced in May, which even then, was below Tesla’s Model Y priced around 249,900 yuan (US$ 35,400).
Customers who want to hand over as little
cash as possible can pick up a brand new Onvo L60 for just 149,900 yuan (US$ 21,200)
and then pay a 599 yuan (US$ 85) monthly subscription for the 60 kWh battery
and 899 yuan (US$ 125) for the 85 kWh pack. Quite frankly, that sounds like a
steal, particularly given how well-received the L60 has been by local
journalists who’ve driven it. Prices rise when you add a battery pack to the
L60 but it still undercuts the Tesla Model Y. The entry-level L60 with a 60 kWh
pack can be picked up for 206,900 yuan (US$ 29,200) and one with the larger 85
kWh pack starts at 235,900 yuan (US$ 33,300).
Both single- and dual-motor versions of
the L60 are available, although only prices for the single motor variant have
been confirmed. Rear-wheel drive models deliver 322 hp and 305 Nm while all-wheel drive versions add a 134 hp motor to the front
axle. Buying an equivalent Tesla Model Y will set back Chinese buyers 249,900
yuan (US$ 35,400), and unlike the L60, the Tesla cannot use Nio’s ever-growing
network of battery swap stations. Onvo says L60 models with the 60 kWh pack and
rear-wheel drive are good for 555 km of range on the CTLC cycle or 525 km in dual-motor guise. The range of 85 kWh models grows to 730 km. Nio is also working on a third battery option that will give
the L60 a claimed 1,000 km of range.
