Nio undercuts Tesla Model Y with £24k Onvo L60 SUV for China

The first model from Nio's new family-focused EV sub-brand Onvo is a Tesla Model Y-rivalling crossover which majors on practicality and efficiency.  Called the L60, it's due on sale in China from September at a starting price equivalent to just £24,000 - undercutting its chief rival by a notable margin.  There's no word yet on plans to bring the Onvo brand to the UK, but the L60 would be priced closer to £40,000 here, to achieve the same cost gap.  Related articles The Onvo brand – previously known by its codename, Alps – is the first of two electric vehicle sub-brands being launched by fast-growing Nio. The second, currently known as Firefly, is expected to launch with a much more affordable compact EV which has been designed with a specific focus on the European market. The L60, as Onco's debut model, showcases how the brand will target family buyers in the upper premium segment, with an overt focus on interior space, safety and utility. It claims a significant advantage over the Tesla in being equipped with 900-volt charging architecture for ultra-rapid charge times, and will be equipped with a choice of three BYD_supplied battery packs offering either 344, 454 or 620 miles - all according to China's generous CLTC test cycle. It is also more efficient than the Model Y, Nio claims, with a consumption rating of 5.1mpkWh - a figure which owes much to the L60's slippery silhouette; Nio claims it is the most aerodynamically efficient SUV on the market, with a drag coefficient of just 0.229.  Full dimensions remain under wraps, but the company says the short overhangs maximise space in the cabin, and "with ingenious storage design, every occupant can bring along their own luggage".  It is equipped with the same advanced driver assistance functions as Nio's own EVs, and is also compatible with the brand's trademark battery-swap stations, meaning it can gain a fully charged battery in just three minutes at more than 1000 sites across China - as well as being able to top up conventionally at 25,000 of Nio's own public chargers.