Nio’s Onvo L60 unwrapped as Tesla Model Y fighter

Chinese car-maker Nio has launched a new lower-priced sub-brand to take on Tesla – and its first vehicle, the Onvo L60, will be priced from the equivalent of just $45,500 in China.

That’s 12 per cent less than the entry-level Tesla Model Y in the Chinese market.

Previously developed under the Alps codename, Nio’s new sub-brand will be joined by another Nio-owned car-maker called Firefly, which is set to market the car-making group’s most affordable EVs.

Both are said to have been created to be global brands.

The Onvo L60 will battle Tesla with its focus on space, safety and utility, while its advanced 900-volt electrical architecture will be class-leading for ultra-fast charging.

From launch there will be three versions, each using a different BYD-sourced battery that offers a driving range of 554km, 731km and more than 1000km (all based on the more lenient CLTC test cycle).

Energy consumption is also low, with the Onvo L60 claimed to average just 12.1kWh per 100km.

As well as being fast to charge, the Onvo will also come equipped with three-minute battery-swap capability, enabling it to swap to larger batteries for long-distance travel.

Full details have yet to be released, but the Onvo L60 is expected to come with sophisticated Nio-developed driver assist aids that will match the Tesla Model Y.

The car-maker also claims the L60 will feature an “ingenious storage design”, suggesting extra innovative spaces around the car to stow bags.

Deliveries of the new Onvo L60 start in China in the third quarter of 2024. Details of its global export program are still to be announced.

For everything you auto know about EVs, listen to carsales' Watts Under the Bonnet: the electric car podcast

Join the conversation at our Facebook page
Or email us at editor@carsales.com.au