Sales at Chinese electric vehicle maker Nio Group — which includes the core Nio brand along with its sub-brands Onvo and Firefly — surged to a 14-week high, driven by the initial deliveries of Onvo’s newly launched L90 SUV.
The group recorded 7,930 vehicle registrations in the week of July 28 to August 3, up from 5,000 in the final full week of July and marking the strongest weekly result since mid-April.
Last week’s total included 3,450 units from the Nio brand, 3,700 from Onvo, and 780 from Firefly, according to data shared on Chinese social media this Tuesday.
Onvo began deliveries of its second model, the L90, on August 1 — one day after the official launch — in over 40 cities across China.
The model’s debut drove Onvo to its second-best weekly result on record, trailing only the final week of 2024, when it delivered 4,200 units.
The family-focused sub-brand was introduced in May 2024, with deliveries starting in late September of that year.
Nio founder and chief executive William Li said earlier this Tuesday that the L90 had already entered the top three in China’s large-size SUV segment within its first three days on sale.
The Onvo L90 posted 1,980 retail sales in the reporting period, ranking behind only the Aito M8 and M9, which sold 5,307 and 2,304 units respectively.
Li added that Nio’s Hefei factory is “running at full capacity with overtime shifts” to accelerate deliveries of the new model.
Nio is aiming to double group deliveries in 2025 to approximately 440,000 units. In the first seven months of the year, it delivered 135,167 vehicles, representing a 25.2% increase from the same period in 2024.
At the company’s first quarter earnings call in early June, Li said Nio is targeting “around 25,000” monthly vehicle sales in the final quarter of the year for each Nio and Onvo brands, implying potential group deliveries of 150,000 units in Q4 alone.
The forecast excludes sales from Firefly, Nio’s recently launched budget-focused brand, for which management has not provided any volume guidance.
Nio is scheduled to launch two additional models before year-end: a refreshed version of its ES8 SUV under the Nio brand, and the L80, a five-seat variant of the Onvo L90.
