NIO (NYSE: NIO) plans to expand into 25 overseas markets by the end of next year. With its new lower-cost Onvo brand already driving demand, NIO expects to play a much bigger role in the global EV market. Will we see NIO’s electric vehicles launch in the US? Europe?
After its sixth straight month, with over 20,000 vehicles sold in October, NIO appears to be gaining traction.
NIO-branded vehicles accounted for 16,657 of the nearly 21,000 models sold last month, while its new mainstream Onvo brand contributed 4,319 in its first full sales month.
After launching the Onvo L60 at the end of September, NIO’s new midsize electric SUV is already showing promise. Starting at just over $21,000 (149,900 yuan), the L60 is widely compared to Tesla’s top-selling Model Y.
The Onvo electric SUV is cheaper than the Model Y in China, which starts at around $35,000 (249,900 yuan). However, the $21K L60 price is if you rent the battery, which includes an $85 (599 yuan) or $125 (899 yuan) monthly fee, depending on the battery’s size.
NIO Onvo L60 electric SUV at the 2024 Guangzhou International Auto Show (Source: NIO Onvo)
Even with the battery included, NIO Onvo L60 prices still undercut the Tesla Model Y, starting at $29,300 (206,900 yuan).
At 4,828 mm long, 1,930 mm wide, and 1,616 mm tall, NIO’s electric SUV is a direct rival to Tesla’s top seller (4,750 mm long x 1,921 mm wide x 1,624 mm tall).
NIO Onvo L60 vs Tesla Model Y trims
Range (CLTC)
Starting Price
NIO Onvo L60 (Battery rental)
555 km (341 mi) 730 km (454 mi)
149,900 yuan ($21,200)
NIO Onvo L60 (60 kWh)
555 km (341 mi)
206,900 yuan ($29,300)
NIO Onvo L60 (85 kWh)
730 km (454 mi)
235,900 yuan ($33,400)
NIO Onvo L60 (150 kWh)
+1,000 km (+621 mi)
TBD
Tesla Model Y RWD
554 km (344 mi)
249,900 yuan ($34,600)
Tesla Model Y AWD Long Range
688 km (427 mi)
290,900 yuan ($40,300)
Tesla Model Y AWD Performance
615 km (382 mi)
354,900 yuan ($49,100)
NIO Onvo L60 compared to Tesla Model Y prices and range in China
NIO wants more to gain overseas market share
In May 2021, NIO announced it was taking the brand global. By October, the Chinese EV maker opened its first overseas showroom in Norway.
Although the company unveiled plans to enter over 25 overseas markets during NIO Day in December 2021, the expansion has largely stalled.
Onvo L60 electric SUV models (Source: NIO Onvo)
Over the past few years, NIO has focused on its existing overseas markets, including Norway, Germany, the Netherlands, Sweden, and Denmark, but that will soon change.
According to NIO’s president and co-founder, Qin Lihong, the company is standing by its 2021 target.
In a recent interview with Chinese media CGTN (via CnEVPost), Qin said, “I hope that we can expand to up to 25 different countries or regions by the end of next year.”
NIO Onvo L60 launch event (Source: NIO
NIO’s president added, “We want to enter more than 90 percent of the market presence” in the next five to ten years.
Although no specific markets were mentioned, local media reports suggest they will include major auto hubs like the US, Western Europe, Australia, and New Zealand. However, with tighter regulations on EV imports from China expected, the US could be a hard market for NIO to compete.
NIO Onvo L60 interior (Source: Onvo)
With NIO’s new Onvo L60 gaining momentum, the low-cost brand could play a significant role as the EV maker expands overseas.
According to NIO Onvo’s president, Alan Ai (via CnEVPost), over 7,000 L60 models have been delivered as of November 14. By March 2025, Onvo is expected to deliver over 20,000 models in a single month.
Onvo is also launching its second EV next year, a six or seven-seat electric SUV. NIO’s CEO William Li said the new Onvo model will be “much more competitive” than the L60.
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Massachusetts is launching a first-of-its-kind statewide vehicle-to-everything (V2X) pilot program. This two-year initiative, backed by the Massachusetts Clean Energy Center (MassCEC), aims to deploy 100 bidirectional chargers to homes, school buses, municipal, and commercial fleet participants across the state.
These bidirectional chargers will enable EVs to serve as mobile energy storage units, collectively providing an estimated 1.5 MW of new storage capacity. That means EVs won’t just be getting power – they’ll be giving it back to the grid, helping to balance demand and support renewable energy use. The program is also focused on ensuring that low-income and disadvantaged communities have access to this cutting-edge tech.
The Massachusetts pilot is one of the largest state-led V2X initiatives in the US and is designed to tackle key challenges in deploying bidirectional charging technology. By strategically placing these chargers in a variety of settings, the program aims to identify and resolve barriers to wider adoption of V2X technology.
Massachusetts EV owners and fleet operators enrolled in the program will get bidirectional chargers capable of both vehicle-to-grid (V2G) and backup power operations at no cost. Here’s what they stand to gain:
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No-cost charging infrastructure: Bidirectional charging stations and installation are fully covered for participants.
Grid resilience: With an estimated 1.5 MW of new flexible and distributed storage assets, the program strengthens Massachusetts’ energy infrastructure.
Clean energy integration: V2G technology allows EVs to charge when renewable energy is available and discharge stored energy when it’s not, supporting the state’s clean energy goals.
Backup power: EV batteries can be used as backup power sources during outages.
Revenue opportunities: Some participants can earn money by sending stored energy back to the grid.
Clean energy solutions firm Resource Innovations and vehicle-grid integration tech company The Mobility House are leading the program’s implementation. “With the charging infrastructure provided through this program, we’re eliminating financial barriers and enabling school districts, homeowners, and fleets to access reliable backup power,” said Kelly Helfrich of Resource Innovations. “We aim to create a scalable blueprint for V2X programs nationwide.”
“Bidirectional charging benefits vehicle owners by providing backup power and revenue opportunities while strengthening the grid for the entire community,” added Russell Vare of The Mobility House North America.
The program is open for enrollment now through June 2025. For more details, visit the MassCEC V2X Program webpage. A list of eligible bidirectional vehicles can be found on that page.
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Compton, California, has unveiled 25 new electric school buses – the school district’s first – and 25 Tellus 180 kW DC fast chargers.
Compton Unified School District (CUSD) in southern Los Angeles County is putting 17 Thomas Built Type A and eight Thomas Built Type C electric school buses on the road this spring. In addition to working with Thomas Built, CUSD also collaborated with electrification-as-a-service provider Highland Electric Fleet, utility Southern California Edison, and school transportation provider Durham School Services.
Environmental Protection Agency’s (EPA) Clean School Bus Program awarded funds for the vehicles in the program’s first round. EPA also awarded CUSD funds for the third round of the program and anticipates introducing an additional 25 EV school buses in the future.
“I can’t stress enough how vital grants like these are and the need for continued support from our partners in government at the state and federal level to fund additional grants for school districts and their transportation partners that are ready to deliver and operate zero-emission buses,” said Tim Wertner, CEO of Durham School Services.
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CUSD, which serves Compton and parts of the cities of Carson and Los Angeles, currently serves more than 17,000 students at 36 sites. The district has a high school graduation rate of 93% and an 88% college acceptance rate. One in 11 children in Los Angeles County have asthma, which makes the need for emissions-free school transportation that much more pressing.
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After cutting lease prices by $200 this month, the Rivian R1S is now surprisingly affordable. It may even be a better deal than the new Tesla Model Y.
Rivian cuts R1S lease prices by $200 per month
Rivian’s R1S is one of the hottest electric SUVs on the market. If you haven’t checked it out yet, you’re missing out.
With some of the best deals to date, now may be the time. Rivian lowered R1S lease prices earlier this month to just $599 for 36 months, with $8,493 due at signing (30,000 miles). The offer is for the new 2025 R1S Adventure Dual Standard, which starts at $75,900.
Before the price cut, the R1S was listed at $799 per month, with $8,694 due at signing. The electric SUV now has the same lease price as the R1T, despite costing $6,000 more.
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The 2025 R1T Dual Motor starts at $69,900, essentially making it a free $6,000 upgrade. At that price, you may even want to consider it over the new Tesla Model Y.
Tesla’s new Model Y Launch Series arrived with lease prices of $699 for 36 months. With $4,393 due at signing, the effective rate is $821 per month, or just $13 less than the R1S at $834. However, the 2025 R1S costs nearly $15,000 more, with the Model Y Launch Series price at $59,990.
Rivian is also offering an “All-Electric Upgrade Offer” of up to $6,000 for those looking to trade-in their gas-powered car, but base models are not included.
Starting Price
Range (EPA-est.)
2025 Rivian R1S Dual Standard
$75,900
270 miles
2026 Tesla Model Y Launch Series
$59,990
327 miles
Rivian R1S Dual Standard vs new Tesla Model Y Launch Series
To take advantage of the Rivian R1S lease deal, you must order it before March 15 and take delivery on or before March 31, 2025.
The 2025 Rivian R1S Dual Standard Motor has an EPA-estimated range of up to 270 miles. Tesla’s new Model Y Launch Series gets up to 327 miles.
Which electric SUV would you choose? Rivian’s R1S or the new Tesla Model Y? If you’re ready to check them out for yourself, you can use our links below to find deals on the Rivian R1S and Tesla Model Y in your area.
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