Cheaper Model Y Juniper competitor's design and brand name revealed by NIO

Two spy shots of the first direct Tesla Model Y competitor by NIO have appeared, and they carry a different name than the rumored Alps brand for mainstream electric vehicles that NIO is prepping to announce.

The crossover carries an Onvo sticker, rather than say Alps, and during yesterday's lifetime EV battery partnership announcement with CATL, NIO's CEO confirmed that will indeed be the new brand's name for export markets.

Apparently, the company carefully sifted through possible names for its first mainstream brand of electric vehicles, and the project's codename - Alps - didn't make the cut. "The name was chosen very carefully and NIO finalized the English and Chinese names in the second half of 2023," he added, explaining that the spy shots have leaked from a rogue employee of a testing supplier, but NIO won't be pressing charges.

As to what exactly would the name Onvo signify, NIO didn't disclose at yesterday's Q&A session, but the Model Y competitor will reportedly be announced in May with all the juicy details around branding, price, and specs.

Last week, NIO mentioned that it managed to craft a crossover with better specs than the Tesla Model Y, but at a 10% lower production cost. It explicitly cited faster charging via the 800V powertrain, swappable battery, and larger screen as the first advantages over Tesla's Y.

Its CEO even advised at the time to hold off on a Model Y purchase in China until its direct Onvo competitor is revealed, indicating a pleasant price advantage surprise may be in store.

This could make life harder for Tesla in one of its important markets, where it faces fierce competition from the newfangled price war of the world's top EV maker BYD, as well as many other established EV companies or startups.

The Onvo crossover will hit the stores in Q4, and it remains to be seen how will Tesla respond with the Model Y Juniper refresh that is slated for release shortly thereafter. NIO's CEO was at pains to explain that Onvo cars will still sit in the upper midrange category of electric vehicles. It reportedly also has a budget EV brand in the works, codenamed Firefly, with which it intends to take on the likes of Tesla Model 2 globally.

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