Nio Launches Onvo L60 SUV with Competitive Pricing, Targets Tesla Market Share

Nio's new mid-size SUV starts at $21,200 with battery subscription, aiming to deliver 10,000 units monthly by December.

Nio's Onvo L60 SUV is priced starting at 149,900 yuan ($21,200) for the battery subscription model and 206,900 yuan ($29,300) with the battery included.
The launch event took place in Hefei, China, with deliveries set to begin on September 28, 2024.
Analysts from Citi and Morgan Stanley have reacted positively to the pricing, predicting strong sales potential and a significant stock upside.
The L60's competitive pricing undercuts Tesla's Model Y by 17%, with Nio aiming to reach 10,000 monthly deliveries by December and 20,000 units next year.
Early bird customers who confirm orders by October 8 receive benefits valued at 41,538 yuan, including free software and battery rental offers.