NIO shows the world its first ‘affordable’ Onvo L60

On Wednesday, Chinese premium carmaker NIO officially showed the world its first model of a completely new ‘affordable’ line, the Onvo L60. It is directly targeted to compete in China with Toyota’s RAV4 and the Tesla Model Y for 219,900 yuan (€27,890), which is 30,000 yuan (€3,820) cheaper than the latter.

According to NIO founder and CEO William Li, this Onvo L60 must ‘redefine the standard for family cars’, as it is built on the new NT3 EV platform, which has a BOM (bill of materials) about ten percent cheaper than Tesla’s.

Three battery options

The Onvo L60 comes with three battery flavors: a 60 kWh base variant offering 555 km of CLTC range, a 90 kWh and 150 kWh model offering up to 730 km and over 1,000 km CLTC range, respectively. Prices for these ‘long range’ variants are yet to be announced. The L60 will officially go on sale and begin deliveries in September of this year.

The first of the new Onvo brand, the L60, is a mid-size SUV with a length of 4,828 mm, width of 1,930 mm, height of 1,616 mm, and a 2,950 mm wheelbase. Its main rival, the Tesla Model Y, measures 4,750 mm in length, 1,921 mm in width, and 1,624 mm in height, with a wheelbase of 2,890 mm. So you might expect slightly more space in the Onvo.

One million car milestone

NIO’s William Li expects much of the lower-priced sub-brand Onvo, launched on May 15th, to reach the one million milestone of cars built. Onvo stands for ‘On voyage’, but its Chinese name, Ledao, literally means ‘Path to Happiness’. That name was carefully chosen with families in mind.

“What are the most important things for a family?” William Li said before. “The first is to be happy and joyful. The second is to care about the price and the cost of use. These two points add up to having a happy family and managing the family well. Every road a family takes together is a happy road, and that’s what its name means.”

Swappable batteries

Like all NIOs, the Onvos will have a swappable battery. Today, NIO has 2,413 power swap stations operational in China and installed 22,292 charging points nationwide.

In Europe, it has expanded its global footprint, with 43 power swap stations and 16 charging stations established at the end of April. NIO sells in Norway, Denmark, Sweden, Germany, and the Netherlands.

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