NIO's Onvo L60 Electric SUV Debuts with Strong Sales and Cost Savings Over Tesla Model Y

NIO's new sub-brand, Onvo, achieves notable deliveries and offers significant energy cost savings compared to Tesla's Model Y.

NIO's Onvo L60 electric SUV delivered 832 units within three days of its launch, contributing to NIO's total of 21,181 vehicles delivered in September.
The Onvo L60 provides up to 26% savings in five-year energy costs compared to the Tesla Model Y, with an estimated total electricity cost of 3,444 yuan ($489) versus 4,666 yuan ($663) for the Model Y.
The Onvo L60 is available in multiple variants, including a 60 kWh model starting at 206,900 yuan ($29,401) and an 85 kWh version at 235,900 yuan ($33,522), with a battery rental option reducing the starting price to 149,900 yuan ($21,300).
NIO has received over 30,000 non-cancelable orders for the Onvo L60, with delivery projections reaching 20,000 units per month by March 2025.
NIO's stock has surged following a $470 million cash investment, reflecting strong market confidence in the company's expansion and new sub-brand.