China’s version of popular Tesla could be up to £20,000 cheaper

Chinese electric car manufacturers have released their own version of the popular Tesla Model Y, with the model available for thousands of pounds less. Last Spring, Chinese EV brand Nio launched its new budget marque, Onvo, for the first time.

At the brand’s launch they also pulled the covers of their first EV, known as the Onvo L60, the model bears a striking resemblance to Tesla’s Model Y. From the outside, the differences are almost unrecognisable with experts even describing the machine as a possible “Tesla killer”. The Onvo L60 is listed at 219,900 yuan ($30,465, £23,990). It makes the brand-new model more than 10% cheaper than the Tesla Model Y in Asia which is available for around 249,900 yuan.

However, with Model Y’s still selling in the UK for up to £45,000, Nio’s game-changing model could be up to £20,000 cheaper if the car was sold in Europe.

Nio bosses have claimed there were plans to introduce Onvo models into Europe from 2025 with the UK understood to be the first destination due to a lack of tariffs.

The Onvo L60 is fitted with an 85kWh battery capable of up to 345 miles on a single charge.

Inside EVs explained: “Out of all the ‘Tesla Model Y killers’ on the market, this car might just do it—if Nio can get out of its own way."

From a standstill, the model is capable of reaching 0-62mph in just 4.6 seconds with a top speed of 124mph.

This is slightly down on the Model Y which can reach 0-62mph in around 3.7 seconds, boasting a top speed of 135mph.

But, with upfront cost still one of the biggest barriers to EV adoption, the cheaper price tag is likely to wow customers more than specs.

Inside, the Onvo L60 is even fitted with a bucketload of tech including a touchscreen infotainment system that looks almost identical to Tesla’s.

Safety features are also equipped including a semi-autonomous Level 2 camera-based system.

Alan Ai, Senior Vice President of NIO and President of ONVO, previously said: "ONVO is on a mission to create better family life, and the L60 will grow and explore the world with its users to celebrate happiness on every path we travel with family."