Nio’s mass-market brand, Onvo, launched an updated L60 mid-size electric SUV on June 11. The new model starts at 192,800 yuan ($28,440). This pricing significantly undercuts the Tesla Model Y in the Chinese market. Deliveries for the vehicle began immediately.
The refreshed L60 features 106 hardware and software upgrades. It integrates Nio’s self-developed 5nm Shenji NX9031 chip for advanced driver-assistance. A 900V high-voltage platform powers the vehicle to enhance charging efficiency. Nio expects the model to capture the mainstream family market and drive group sales volume.