Nio prepares to launch Tesla Model Y competitor in China under new brand
Teslarati
SEPTEMBER 19, 2024
Nio has a new brand in China called Onvo, and it is coming for the Tesla Model Y with its first release. Onvo’s first vehicle, a small SUV called the L60, will start deliveries later this month and will be roughly 17 percent less expensive than the base Model Y offering in China. The L60 starts at 206,900 yuan, or $29,267.
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