Written by Cláudio Afonso | LinkedIn | X
Electric carmaker Nio reached on Tuesday a new weekly record of insured units in China with 7,500 vehicles including 5,400 of its main Nio brand and 2,100 units of its recently launched Onvo brand.
Registrations increased nearly 23% from the second week of December when the EV maker had registered a total of 6,100 with its two brands. Over the last few weeks, Nio has said multiple times that it targets 30,000 vehicles delivered 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 8,000 monthly units.
As reported yesterday by EV, Nio’s founder and CEO William Li confirmed that Onvo faced a battery supply issue with BYD’s battery division which affected the production ramp up throughout October and November.
The chief executive revealed that Onvo has recently added a third battery supplier to avoid any disruptions as it targets 20,000 units delivered in March 2025. “In the future, batteries will certainly no longer be a major issue,” Li stated last Sunday.
For the full month of November, Onvo delivered 5,082 vehicles, up 17.6% from October when it delivered 4,319 units.
Last week, the Nio brand registered 5,400 units in its second consecutive week of growth. This figure represents its second-best weekly performance ever, surpassed only by the second week of September when 6,100 vehicles were registered.
The Shanghai-based company hopes to double its deliveries in 2025, targeting over 440,000 units, driven largely by its mass-market brands Onvo and Firefly. Last week’s rate of 7,500 vehicles would result in about 390,000 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
