Here is the new brand of electric cars with a first model cheaper than the Tesla Model Y

While the launch of the Chinese electric car brand Nio is slipping in France, the Chinese manufacturer is preparing to launch a new brand called Onvo which should take on Tesla head-on. More affordable than Nio's sedans and SUVs, Onvo could be the group's spearhead in France.

Nio ET5 // Source: Nio

Nio, the Chinese electric car giant known in particular for its ultra-fast battery swap system, today announced juicy details regarding its brand new brand, which until now had the mysterious code name of “Alps ”, but now presenting itself under the name Onvoor in Chinese, Ledao.

During a question-and-answer session with several journalists in Beijing, Nio confirmed the Onvo name, with a formal presentation due in mid-May. This confirmation comes after the appearance on the web of several stolen photos of the Onvo L60, an SUV which should be the first model of this young brand.

The spy photos, although of “questionable quality” according to William Li, the CEO of Nio, gave an overview of what this model will look like, while the boss however specified that despite the “mediocrity of the photos, Onvo's first model is far from ugly, but rather aesthetically pleasing ». Apparently, we don't really like leaks on the Internet in China.

Yet another “Tesla killer” ?

But in which segment will this new brand fit, knowing in particular that the Chinese market, and even the international market, is starting to be flooded with new brands of electric cars of all kinds? Onvo should, compared to Nio, which offers more high-end products, move towards volume products. However, the boss of Nio wanted to clarify that it will not be an entry or mid-range brand.

Nio, with its large ET7 sedan, is ultimately aiming for the high end // Source: Nio

In other words, William Li hopes to make Onvo yet another new Tesla. Moreover, the manager suggested that the manufacturer's first model would be competitive with the Tesla Model Y in terms of price, technology and performance.

He goes even further by announcing that its product will be around 10% cheaper than the American electric SUV and targets a price range between 200,000 and 300,000 yuan, that is to say between 25,500 and 38,000 euros, knowing that the base Model Y is sold in China for 258,900 yuan, or around 33,000 euros. The Long Autonomy version costs 299,900 yuan, or around 38,300 euros.

In France, it costs 42,990 and 49,990 euros respectively for the Propulsion and Long Autonomy versions. The first is, however, eligible for the ecological bonus thanks to its price below 47,000 euros and its production in Germany.

But the boss of Nio is not afraid of Tesla and warns potential customers of a Model Y that they must wait a little before taking the plunge. Wait for the arrival of this future competitor.

Onvo in France rather than Nio?

Good news, because even if Onvo will be a little less high-end than Nio, this young brand will benefit from Nio's network, in particular from its battery exchange stations which are currently popping up all over the world, including in Europe.

A Nio battery exchange station // Source: Nio

On the other hand, as far as arriving in Europe is concerned, we are not there yet. Nio will first take the time to establish itself in China and in markets where electric is already very mature (Canada, Norway, etc.) before considering marketing it on the Old Continent.

Nio has not even been launched in France yet, even if, according to the latest information, its arrival is imminent since a team was formed a few months ago. However, rumors also suggested that Nio will not come to us in the form we know it. It could be that it is one of its new sub-brands that will arrive in France in the coming years. Onvo for example?

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