NIO’s new Onvo EV brand is finally scheduled to arrive in its first European market in early 2025. The new lower-priced EV brand is expected to play a significant role as NIO looks for a bigger share of the global auto market.
After launching the first Onvo model, the L60 electric SUV, in September, NIO’s new sub-brand is already showing promise.
In its first full sales month, over 4,300 Onvo L60 models were sold, or about a fifth of NIO’s nearly 21,000 vehicles sold in total in November.
With starting prices of just over $21,000 (149,900), the Onvo electric SUV undercuts rivals, including Tesla’s Model Y, which starts at around $35,000 (249,900 yuan) in China. However, NIO’s base price is if you opt to rent the battery, which is an extra $85 (599 yuan) or $125 (899 yuan) per month, depending on the battery size.
Even with the battery included, the Onvo L60 is still cheaper than Tesla’s top seller, with prices starting at $29,300 (206,900).
After a hot sales start at home, NIO is now launching its low-cost EV overseas. According to Eric Yu, the VP of products for NIO’s Onvo EV brand, the L60 will launch in its first European market in early 2025.
NIO Onvo L60 launch event (Source: NIO
NIO’s new Onvo L60 EV preps for first European market
Yu told Automotive News Europe Onvo would first debut in the UK because, unlike the EU, the region doesn’t have import tariffs on Chinese EV imports.
With the EU raising duties, NIO, including its Onvo brand, faces a 31% import tariff in the EU. That’s up from just 10% last year.
NIO Onvo L60 electric SUV models (Source: NIO Onvo)
Although NIO has been selling cars in Europe since 2021, its expansion has been slower than expected. Over the past few years, NIO has mainly focused on existing markets like Norway, Germany, and the Netherlands.
That could soon change with its new Onvo brand. In a recent interview with Chinese media CGTN (via CnEVPost), Nio’s president, Qin Lihong, said, “I hope that we can expand to up to 25 different countries or regions by the end of next year.”
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 vs Tesla Model Y in China
At 4,828 mm long, 1,930 mm wide, and 1,616 mm tall, the L60 is nearly the same size as the Tesla Model Y (4,750 mm long x 1,921 mm wide x 1,624 mm tall).
The Onvo L60 will mark NIO’s entrance into the UK market. It will launch early next year. According to Yu, Onvo will begin exporting models after production reaches 30,000 per month, which is expected around March 2025.
NIO will also launch its second EV brand, Firefly, in a few days. The new EV brand is expected to be aimed at global markets. It will officially launch on December 21 during NIO Day. Check back for more.
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Tesla has announced that it produced its one millionth Powerwall. An impressive milestone that is, unfortunately, overshadowed by some questionable math.
Powerwall is by far the most popular home battery pack system, especially in North America.
It has popularized residential energy storage and made it now ubiquitous with new rooftop solar energy installations in the US.
Tesla managed to significantly ramp up production and installations in the last few years.
Now, Tesla has announced that it has built its one millionth Powerwall:
Here are the timelines of Tesla’s milestones regarding the deployments and production of the Powerwall:
It took Tesla roughly two years to go from 500,000 to 1 million Powerwalls despite claiming to be scalable of producing over 300,000 units per year since 2023 and 700,000 per year since 2024.
We recently noted that Powerwall is not only a highly popular home battery pack, but it is also a best-selling solar inverter, as the latest version, Powerwall 3, includes an inverter.
Electrek’s Take
Kudos to everyone involved in achieving this milestone. It is impressive, and I think Powerwall is a great product.
It’s just sad that it is hard to trust Tesla these days, and the math doesn’t add up here, as explained in this article.
I might be reading too much into this, but it’s my job to track Tesla closely, and therefore, I do note those inconsistencies.
It will be interesting to see what happens with the Powerwall program in the coming months and years with the tariff situation as the product currently relies on battery cells imported from China.
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Tesla is being forced to remove 64 Superchargers at stations along the New Jersey Turnpike as the local authorities have decided to go with another provider.
Elon Musk claimed corruption without any evidence.
The New Jersey Turnpike is a system of controlled-access toll roads that consists of a 100-mile section of important New Jersey highways.
The agreement has now expired, and instead of renewing it, the authority decided to give an exclusive agreement to Applegreen, which already operates in all service areas on the turnpike.
Tesla issued a statement saying that it is disappointed with the situation, but that it has prepared for this by building new stations off the turnpike for the last few years:
The New Jersey Turnpike Authority (“NJTA”) has chosen a sole third-party charging provider to serve the New Jersey Turnpike and is not allowing us to co-locate. As a result, NJTA requested 64 existing Supercharger stalls on the New Jersey Turnpike to not be renewed and be decommissioned. We have been preparing for 3 years for this potential outcome by building 116 stalls off the New Jersey Turnpike, ensuring no interruption for our customers. The map below outlines the existing replacement Superchargers, and Trip Planner will adjust automatically.
Tesla CEO Elon Musk went a step further and called it “corruption” without any evidence.
The automaker’s agreement with NJTA expired, and they decided to go with a sole provider. Applegreen will reportedly deploy chargers at all 21 turnpike service stops.
Here are Tesla’s replacement Superchargers off the turnpike:
Electrek’s Take
I don’t like the decision from the Turnpike authorities. More chargers are better than fewer chargers. However, I also don’t like Musk calling everything he doesn’t like fraud or corruption.
While I agree with Tesla that it is unreasonable to force them to remove the stations, it appears to be an oversight on Tesla’s part not to have included stipulations in their agreement to prevent such a scenario from happening in the first place.
Who signs a deal to deploy millions of dollars worth of charging equipment with only the right to operate them there for 5 years?
It looks like Tesla knew this was coming since it specifically built several new Supercharger stations off the turnpike to prepare for this.
On the other hand, I don’t like the Turnpike Authority using the term “universal charger” as if this is a positive for Applegreen. They are going to use CCS, and everyone is moving to NACS in North America.
Yes, for a while, only Tesla owners will have to use adapters, but that will soon change and the current NACS Supercharger will be even more useful.
At the end of the day, the stations are already there. Let them operate them.
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ZQUIP is working hard to bring more smart, efficient, modular power solutions to commercial job sites everywhere – and at the core of their vision for the future is battery-swap technology. You can see just how easy it is make that happen here.
MOOG Construction’s energy skunkworks ZQUIP made headlines last year by bringing the cordless power tool battery model to the world of industrial-grade heavy equipment.
“The 700V ZQUIP Energy Modules are at the core of this innovation, said Chris LaFleur, managing director for QUIP. “ZQUIP modules are interchangeable across any machine we convert regardless of size, type, or manufacturer, and will enable a level of serviceability, runtime, and value that is far greater than current battery solutions.”
ZQUIP generator prototype on Caterpillar excavator; via ZQUIP.
Most machines on most sites sit idle most of the time, but converting all those machines to battery electric power means that megawatts of battery capacity are being wasted. By utilizing swappable batteries, job sites can do what technicians and contractors have been doing for years with power tools: quickly get the energy they need to the tool they need when they need it, without the need to have a dedicated battery for every tool.
If you need to be able to run the machine non-stop and don’t have a reliable way to recharge your batteries quickly enough, a 140 kW diesel generator is built into a package the same size and shape as the batteries. In fact, if you look closely at the CASE excavator below (on the right), the “battery” on the right is, in fact, a diesel Energy Module.
The demo video, below, shows a pair of CASE-based electric excavators – one wheeled, one tracked – operating on ZQUIP’s Energy Modules. It takes less than two minutes to remove one battery, and presumably about the same time to swap another one in, for a 5 (ish) minute swap.
Even if you call it ten, by eliminating the need to get the entire machine up and out for charging (or for service, if there’s an issue with the battery/controllers), the ZQUIP battery swap construction equipment solution seems like a good one.
ZQUIP HDEV battery swap
SOURCE | IMAGES: ZQUIP.
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