Written by Cláudio Afonso | LinkedIn | X
Nio Group saw its weekly vehicle registrations reach 3,300 units in China between March 10 and 16, according to insurance data shared by multiple automotive bloggers on Tuesday. In the previous week, the group that includes both Nio and Onvo brands, had registered 3,000 units.
Last week figures included 1,300 units of the Onvo L60 SUV (up from 1,100 week over week) and 2,000 Nio-brand vehicles (up from 1,900).
Starting from April and throughout the year end, the Group will start delivering several new models and refreshed versions across the three brands Nio, Onvo and Firefly.
The ET9, Nio’s most expensive sedan, and Firefly, a compact car (and the cheapest model ever) under its upcoming third brand, will start deliveries in April. The sub-brand Onvo will launch two new SUVs later this year.
Nio’s founder and CEO William Li said late last year he was “very confident” the company would double sales in 2024 across its three brands. Later this week, the management is expected to update Wall Street analysts and shareholders on the cost cutting measures, sales targets and market expansion.
Tesla had its best week of the year with 15,300 vehicles as it continues ramping up production of its refreshed Model Y. XPeng was the only NEV startup posting a week over week decline with 7,000 units.
In February, Nio delivered 9,143 vehicles, while Onvo recorded 4,049 units, bringing the Group’s total to 13,192—up 62% from a year earlier. Onvo’s February deliveries fell 31.5% sequentially from the 5,912 units recorded in January.
Nio shares closed 3.2% higher on Tuesday the same day it announced the extension of the partnership with the battery giant CATL into the battery swap business. CATL is also investing up to 2.5 billion yuan ($346 million) in Nio Power, the charging and battery swap unit of the EV maker.
