26 Comments Chinese EV maker NIO launched the first EV under its new mass-market Onvo brand Wednesday. The new Onvo L60 electric SUV will rival Tesla’s best-selling Model Y at a cheaper starting price. Starting at just $30,500 (219,900 yuan), can NIO’s new electric SUV compete with the Model Y? Meet the NIO Onvo L60, the latest Tesla Model Y rival NIO CEO William Li launched the new Onvo brand Wednesday, introducing its first vehicle, the L60 SUV. Li said the new EV will rival Toyota’s RAV4 and Tesla’s top-selling Model Y as a family car. “Defining a new standard for family cars,” according to NIO, the L60 has a pre-sale price of just $30,500 (219,900 yuan). NIO compared its new electric SUV to the Tesla Model Y, saying it has better energy consumption (12.1 kWh/100km vs. 12.5 kWh/100km) under the same CLTC conditions. At 4,828 mm long, 1,930 mm wide, and 1,616 mm tall, the Onvo L60 will directly rival the Model Y (4,750 mm long X 1,921 mm wide X 1,624 mm tall). Starting at 219,900 yuan ($30,500), NIO’s new mass-market electric SUV undercuts the Model Y, which starts at 249,900 yuan ($34,600) in China. NIO Onvo L60 electric SUV (Source: NIO) The new mass-market electric SUV on the block The electric SUV has three battery pack options. The base 60 kWh variant features 555 km (345 mi) CLTC range, while the 90 kWh and 150 kWh models offer up to 730 km (454 mi) and over 1,000 km (621 mi) CLTC range, respectively. NIO Onvo L60 vs Tesla Model Y trims Range