Here are the first official images of Nio's Onvo L60, launching tomorrow

Nio's first sub-brand is almost ready to launch its first EV. The official event is tomorrow, on May 15, in China, and ahead of that a few official images have been shared by Nio showing us bits and pieces of the new car, which will be called Onvo L60.

This will be positioned to compete with Tesla's Model Y, aiming at the family-centric EV market. The price is expected to be around CNY 250,000 (about $34,550 at the current exchange rates).

The Onvo L60 was designed by Raul Pires, Onvo's vice president and head of global design, who has over 20 years of experience at the Volkswagen Group, having designed a number of Bentley models in the past.

The L60's Bill Of Materials (BOM) will apparently be about 10% less than that of Tesla's Model Y, according to Nio CEO William Li. The L60 was designed with low energy consumption in mind. This resulted in the initial design being vetoed by Li because of low range considerations, after which it was replaced with the one that's launching tomorrow.

"Batteries cost a lot of money, and if we reduce the power consumption, then the range is longer and it saves the user money", Onvo president Ai Tiecheng said.

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