Written by Cláudio Afonso | LinkedIn | X
Electric vehicle maker Nio achieved a new weekly high for insured units in China for the second consecutive week, with 10,700 vehicles registered between December 23 and 29. Registrations surged 42.6% compared to the previous week, primarily driven by the production ramp-up of its sub-brand Onvo.
Onvo, Nio’s family-focused brand, saw registrations of its debut model, the L60, reach 4,200 units, doubling week-over-week after it added a new battery supplier earlier this month to tackle supply disruption. The brand plans to expand its lineup with two new SUVs set to launch in 2025.
Registration of Nio models increased by 20.4% from 5,400 to 6,500 vehicles, marking the strongest week for the Shanghai-based brand.
In the third week of December, the company had recorded 7,500 vehicles including 5,400 of its main Nio brand and 2,100 units of its recently launched Onvo brand.
The delivery numbers of the last month of 2024 are expected to be published on early Wednesday, January 1.
As stated multiple times by the management, the EV maker aims to deliver 30,000 vehicles in December including 20,000 premium Nio EVs and 10,000 Onvo L60 SUVs.
Onvo started production of the five-seater SUV in late September and after a weaker than expected start, it is now at a production rate of over 16,000 monthly units.
For the full month of November, Onvo delivered 5,082 vehicles, up 17.6% from October when it delivered 4,319 units.
Nio aims to double its deliveries in 2025, targeting over 440,000 units, driven largely by its mass-market brands Onvo and Firefly, its cheapest brand, whose deliveries are planned to start in China in late April. Last week’s rate of 10,700 vehicles would result in more than half a million vehicles sold per year.
As confirmed earlier this month by Nio’s chief executive, the company’s third EV manufacturing plant is planned to begin production in the third quarter of next year. The factory is located in Huainan, Hefei, where Nio’s two existing factories are also situated.
Written by Cláudio Afonso | LinkedIn | X
