Nio has officially launched its latest offering, the Onvo L60 SUV, directly targeting Tesla’s popular Model Y but at a more affordable price point. The Onvo L60, built on a 900 V high-voltage architecture, boasts higher energy efficiency, with an impressive CLTC energy efficiency of 92.3 percent and the lowest wind resistance of any production SUV at 0.229 Cd, resulting in an energy consumption of just 12.1 kWh per 100 km.
The Onvo L60 is believed to be the first production vehicle based on Nio’s next-generation vehicle platform, NT 3.0, although Nio is downplaying the vehicle platform narrative. The SUV has a length, width, and height of 4,828 mm, 1,930 mm, and 1,616 mm respectively, with a wheelbase of 2,950 mm, making it a mid-size SUV.
The pre-order price for the Onvo L60, including the battery, is set at RMB 219,900 ($30,440), which is exactly RMB 30,000 less than the starting price of the Tesla Model Y in China. The vehicle supports battery swap technology, similar to Nio’s models, allowing for a fully charged battery in a matter of minutes and reducing the initial purchase threshold.
While the battery pack details for the L60 have not been disclosed, the model is said to have a CLTC range of 555 kilometers for the standard-range version and over 730 kilometers for the long-range version. Additionally, an ultra-long-range battery pack option will be available, providing a range of more than 1,000 kilometers, similar to Nio’s offerings.
In terms of technology, the Onvo L60 is equipped with an Nvidia Orin X chip to power its assisted driving system, capable of delivering 254 Tops of computing power. The vehicle also features a horizontal 17.2-inch center screen and retains the HUD (Heads-Up Display) system, distinguishing it from Nio models which have a vertical screen and a dashboard.
The Onvo L60’s assisted driving system has been enhanced with the inclusion of a 4D imaging radar, providing better obstacle recognition than cameras alone. SinPro, a local startup that received investment from Nio Capital in April 2023, is the maker of the 4D imaging radar, known as the SFR-2K, which will be standard on all models of Nio’s NT 3.0 platform.
The Onvo L60’s launch sets the stage for a head-to-head battle with Tesla’s Model Y, a top seller not only in China but also globally. With its competitive pricing, advanced features, and strategic positioning in the market, the Onvo L60 aims to carve out its own space in the highly competitive electric SUV segment.
