<ul><li>NIO's budget-friendly EV brand, Onvo, is set to enter European markets in 2025.</li><li>The Onvo L60 SUV is priced competitively at 219,900 yuan, 12% lower than Tesla's Model Y starting price in China.</li><li>The Onvo L60 shares similarities with the Tesla Model Y in terms of design but has subtle differences.</li><li>Onvo cars will benefit from NIO's battery swapping stations and public chargers, with a lower bill of materials compared to the Model Y.</li></ul>

Tesla rival, 2025 Neo Onvo L60 Electric Car Price, Range, specs, and Top Features

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