Chinese EV maker Nio, known for its premium electric vehicles, has launched a new sub-brand called Onvo and its first model, the L60.
The Onvo L60 SUV is priced at 149,900 Chinese yuan (around $21,210), but the affordability comes with a twist: buyers can opt for a subscription-based battery rental, starting at 599 yuan per month (about $1,000 per year).
A model with the battery and the car starts at 206,900 yuan (around $29,330). Deliveries are set to begin Sept. 28.
The L60 is positioned to compete directly with Tesla’s Model Y, which retails for 249,900 yuan in China, but brings more interior space and better features.
The Onvo L60 will be offered with three different battery pack options: 555 km, 730 km, and over 1000 km.
With a focus on family-oriented features, Onvo describes the L60’s cabin as an “Urban Oasis AI Smart Cockpit.”
It boasts a spacious interior with a 17.2-inch central display, an 8-inch rear screen, a premium sound system, and customizable ambient lighting.
