Nio, the Chinese electric vehicle (EV) manufacturer, is set to launch its new family-focused EV brand called Onvo. The first model from Onvo is the L60, a crossover that is expected to rival the Tesla Model Y in terms of practicality and efficiency. The L60 is scheduled to go on sale in China in September, with a starting price of around £24,000, significantly undercutting its chief rival.
While there are no plans yet to bring the Onvo brand to the UK, it is estimated that if the L60 were to be sold in the UK, its price would be closer to £40,000, still offering a notable cost advantage over the Model Y. This pricing strategy reflects Nio’s intention to target family buyers in the upper premium segment.
One of the key advantages of the L60 over the Model Y is its 900V electrical architecture, allowing for ultra-rapid charging. Additionally, Nio claims that the L60 is more efficient than the Model Y, with a consumption rating of 5.1mpkWh. This high level of efficiency is partially attributed to the L60’s sleek design, boasting a drag coefficient of just 0.229Cd, making it the most aerodynamically efficient SUV on the market.
Nio has partnered with BYD to supply three battery packs for the L60, offering ranges of 344, 454, or 620 miles according to China’s CLTC test cycle. This range flexibility ensures that buyers can choose the battery option that best suits their needs.
In terms of interior space and utility, Nio claims that the L60 maximizes cabin space through its short overhangs and ingenious storage design. This allows every occupant to bring along their own luggage. The L60 also features advanced driver assistance functions and is compatible with Nio’s trademark battery-swap stations, enabling a fully charged battery in just three minutes at over 1000 sites across China.
While the focus of Onvo is on family buyers, Nio is also planning to launch another EV brand called Firefly, specifically designed for the European market. This brand is expected to offer a more affordable compact EV option, catering to the needs and preferences of European consumers.
In conclusion, Nio’s new Onvo brand aims to provide a practical and efficient alternative to the Tesla Model Y. With its competitive pricing, high efficiency, and advanced features, the L60 is poised to make a strong impact in the Chinese EV market. As Nio continues to expand its brand portfolio with the upcoming Firefly brand, it is clear that the company is committed to offering a diverse range of EV options to meet the needs of different markets and consumers.