Chinese EV manufacturer Nio still only sells a fraction of the vehicles that the likes of Tesla and BYD do, but it’s already ready to introduce two new brands, Onvo and Le Dao, to help boost sales by offering EVs at lower price points than its own premium offerings.
Onvo is aimed at families and revealed its first model, the L60 compact crossover, on Wednesday. The Onvo name stands for “on voyage”, and the translation of the Chinese name Le Dao is “path to happiness.”
The L60 is priced in China from 219,900 renminbi (approximately $30,500), or roughly 12% less than the Tesla Model Y that starts in China at 249,900 renminbi ($35,600). It’s due to start deliveries in September.
Le Deo is still doing the rounds under its Firefly code name, and will be focused on compact EVs for urban environments, with prices expected to dip below $30,000.
Onvo L60
Both brands will eventually operate outside of China, including in Europe where Nio has already expanded. A U.S. launch for Nio or any of its additional brands hasn’t been announced and may never happen, given the Biden administration’s increase this week in tariffs on Chinese-made EVs to 100%, up from 25%.
The L60 measures 190 inches long, making it slightly longer than the Model Y. This has resulted in more interior space than the Tesla.
Battery options include 60-, 90-, and 150-kwh options. The 150-kwh unit is a semi-solid state battery using cells from China’s Welion. A demonstration last year using a Nio ET7 showed the battery could deliver a range of almost 650 miles in near-freezing temperatures.
Onvo cars will also have access to Nio’s network of more than 1,000 battery swapping stations and 25,000 public chargers across China. The network is also being expanded outside of China, starting in some European countries.
