Tesla’s Model Y rival launched by Chinese EV Brand Nio
o compete with Tesla's Model Y in the EV market, Chinese electric vehicle (EV) manufacturer Nio recently unveiled Onvo, a new, less expensive brand. With a starting price of 219,900 yuan ($30,476), the Onvo L60 SUV—the first vehicle under this brand—was introduced. This price is 12% less than that of Tesla's Model Y in China.