Written by Cláudio Afonso | LinkedIn | X
Shanghai-based EV maker Nio delivered 13,863 electric vehicles in January, the company said on Saturday.
Although the group’s deliveries rose 37.9% year-on-year, the increase was driven by the lower-cost sub-brand Onvo, while Nio-branded deliveries fell 21% from 10,055 in January 2024 to 7,951 units.
The January figures come after a record-breaking December, when the group delivered 31,138 vehicles, typically the strongest month for the automotive industry due to year-end sales promotions.
Nio announced on Friday new purchase incentives for customers who place a deposit on a Nio-branded vehicle in February. New buyers will be eligible for a financing program requiring a minimum 20% down payment and offering 0% interest for up to five years.
Last month’s deliveries included 7,951 Nio-branded vehicles and 5,912 units from Onvo, which began deliveries in September 2024.
Starting in April, Nio’s third brand, Firefly, is planned to begin deliveries in China, with the company projecting 50,000 deliveries for the year.
In 2024, Nio’s sales increased by 38.7% to 221,970 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.
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 this year. The factory is located in Huainan, Hefei, where Nio’s two existing factories are also situated.
