NIO’s (NIO) new mass-market brand, Onvo, has taken the EV world by storm with the launch of its first model, the Onvo L60 SUV. This new addition to the electric vehicle lineup is designed to challenge Tesla’s (TSLA) Model Y head-on, offering a price and performance package that’s hard to ignore.
With Onvo’s aggressive pricing, cutting-edge technology, and an impressive set of features, the L60 is making a big statement in the already competitive Chinese EV market.
A Price That Shakes the Market
The Onvo L60 is a game-changer when it comes to pricing. NIO’s BaaS (Battery-as-a-Service) model allows buyers to purchase the car without the battery, significantly reducing the initial cost. The base model, with BaaS, is priced at just 149,900 yuan ($21,200 USD). This makes the Onvo L60 a whopping 100,000 yuan ($14,150 USD) cheaper than Tesla’s Model Y in China.
For those who prefer to buy the car with the battery included, prices range from 206,900 yuan ($29,250 USD) for the 60 kWh version to 235,900 yuan ($33,350 USD) for the 85 kWh version.
Compared to the Model Y’s starting price of 249,900 yuan ($35,280 USD), the Onvo L60 is positioned as a more affordable alternative without sacrificing key features or performance.
Designed to Compete with Tesla’s Best
From its design to its specs, the Onvo L60 is built to go head-to-head with Tesla’s popular Model Y. The sleek, streamlined design gives the L60 a drag coefficient of just 0.229, slightly better than the Model Y’s 0.236.
This aerodynamic advantage helps the L60 reduce energy consumption to as low as 12.1 kWh/100 km for the single-motor variant and 12.7 kWh/100 km for the dual-motor version, making it one of the most energy-efficient SUVs in its class.
Powering the Onvo L60 is a 240 kW electric motor that delivers 305 Nm of torque to the rear axle in the single-motor version. For those seeking more power, the dual-motor version adds a 100 kW motor on the front axle, boosting total power output and bringing the 0-100 km/h acceleration time down to 4.6 seconds.
The single-motor version is no slouch either, accelerating from 0 to 100 km/h in 5.9 seconds.
With a top speed of 203 km/h and three available range options—555 km, 730 km, and a future 1,000+ km version—the L60 is not just about affordability. It’s also about offering flexibility and performance for a wide range of driving needs.
Spacious and Comfortable Inside
When it comes to size, the Onvo L60 has an edge over the Model Y. It’s slightly larger, with a wheelbase of 2,950 mm, compared to the Model Y’s 2,890 mm. This extra length translates to a more spacious interior, making the L60 a comfortable option for families or long-distance travelers.
The interior design of the L60 is minimalist but packed with features. A 17.3-inch central touchscreen dominates the dashboard, similar to Tesla’s approach, but Onvo takes it a step further with an 8-inch rear screen for backseat passengers. The center console features two sloped mobile phone charging pads, two cup holders, and a split-opening storage compartment, ensuring plenty of space for personal items.
One of the standout features is the 13-inch head-up display, which takes much of the driver’s attention away from the central screen, making navigation and vehicle monitoring easier. The L60 also includes a driver fatigue monitoring system, adding a layer of safety for long journeys.
For those concerned about comfort, the Onvo L60 comes with skin-friendly, non-allergenic, and antibacterial seats developed in-house. These seats feature a 10-layer ergonomic composite structure designed to reduce fatigue during long trips. Front seats are equipped with heating, and the rear seats also have heating functionality. The front passenger seat even comes with a movable calf support for added comfort.
Tech-Packed for the Future
Onvo didn’t hold back when it comes to technology. The L60’s OSD (Onvo Smart Driving) system is powered by an Nvidia Orin X chip capable of 254 TOPS AI computing power, delivering advanced driver-assistance features. Unlike NIO’s main brand, which includes LiDAR in its premium models, the Onvo L60 relies on a vision-based system with a 4D imaging millimeter-wave radar that has a maximum detection range of 370 meters.
The L60 comes equipped with 45 active safety systems as standard, including AEB (Automatic Emergency Braking) for frontal collisions at speeds up to 120 km/h. Onvo’s NOA (Navigate on Autopilot) is designed to work on 99.9% of roads, providing drivers with a near-autonomous driving experience. Driverless parking is also supported, adding another layer of convenience.
The infotainment system is powered by a Qualcomm Snapdragon 8295P chipset, offering 60 TOPS AI computing power and 256GB of storage. Combined with the 18-speaker 1020W Dolby Atmos sound system, the L60 offers a premium audio-visual experience for all occupants.
Unique Selling Points: A Fridge in the Trunk
Perhaps the most surprising feature of the Onvo L60 is the optional 52-liter Midea fridge that can be installed under the trunk floor.
This adds a level of convenience for those who like to take long road trips or enjoy outdoor activities, making it easy to keep food and drinks cold while on the go.
Charging and Battery Options
Onvo offers multiple ways to charge and maintain your vehicle. The L60 supports NIO’s fourth-generation battery swap stations, allowing for quick battery swaps instead of waiting for a full charge. It is also compatible with third-generation NIO stations that have been modified. With 1,000 stations currently available, Onvo aims to expand this network to 2,500 stations by the end of 2025.
For those opting for BaaS, the 60 kWh battery rental costs 599 yuan ($85 USD) per month, while the 85 kWh battery costs 899 yuan ($125 USD) per month. This flexibility lowers the barrier to EV ownership, making the L60 accessible to a broader audience.
A Step Ahead in the EV Race
The launch of the Onvo L60 marks a significant shift in NIO’s strategy, targeting the mass market while maintaining the premium features that the brand is known for. This model not only undercuts Tesla’s Model Y on price but also competes closely in terms of performance and features, making it a formidable competitor in the EV market.
The Onvo L60 is just the first of what promises to be a series of competitive, well-designed, and affordable electric vehicles from NIO’s Onvo brand. With its impressive range, smart technology, and family-friendly features, the L60 is setting a new standard for what consumers can expect from an affordable electric SUV.
As deliveries begin on September 28, 2024, the Onvo L60 is poised to make a big impact in China and, potentially, the global market in the years to come. With NIO planning to open 200 Onvo stores across 68 cities by the end of the year, the L60 is just the start of a new era for the brand.
Final Thoughts
Onvo’s first offering is a bold entry into the mass-market EV space. By focusing on affordability, performance, and innovation, the L60 is not just a cheaper alternative to Tesla’s Model Y; it’s a viable competitor in every sense. Whether it’s the sleek design, tech-heavy features, or the flexible pricing options, the Onvo L60 is here to disrupt the EV game, and Tesla should be paying close attention.
