William Li, founder and CEO of Nio Group, said deliveries under the company’s family-focused sub-brand Onvo are set to rise by “at least 40%” in May, even after the brand cut its frontline workforce by 40%.
Li made the remarks on Saturday at the 2025 Future Auto Innovators Conference, adding that the increase was achieved without resorting to price cuts.
“This year’s restructuring has brought visible changes,” Li said. “Despite a 40% reduction in frontline staff, Onvo’s deliveries in May will increase by at least 40%, and that’s without cutting prices.”
The comments suggest that Onvo will report more than 6,350 deliveries for May when it announces monthly figures on Sunday.
Insurance data indicates the brand sold over 1,500 L60 units for three consecutive weeks through May 25 — a first in 2025 — with 6,080 units registered from April 28 to May 25, already exceeding full-month volumes for February, March, and April.
Sunday’s official delivery report is expected to confirm Onvo’s second-best monthly performance to date.
The brand delivered 5,912 units in January, 4,049 in February, 4,820 in March, and 4,400 in April. An earlier internal goal of 20,000 units for March was not met.
“We definitely don’t want to compete on price,” Li stated one week after BYD launched price cuts until the end of June that can reach up to 34%.
“In addition to technology, Nio will also compete on service,” he added.
Onvo’s debut model, the L60, placed fourth in the midsize fully electric SUV segment in J.D. Power’s latest China New Energy Vehicle (NEV) Study released this week.
The five-seat SUV, launched in September and priced from 206,900 yuan ($28,700) including the battery, is positioned as a rival to Tesla’s refreshed Model Y.
The L60 scored 810 points, tying with Volkswagen’s ID.4 Crozz, while Tesla’s Model Y ranked ninth with 805.
The Model 3 took the top spot in the midsize electric car segment. Overall NEV satisfaction in China reached a record high of 806, J.D. Power said, based on surveys from 21,211 owners who bought their vehicles between July 2024 and January 2025.
Customers can also opt into Nio’s Battery-as-a-Service (BaaS) programme to lower the vehicle’s starting price to 149,900 yuan ($20,800).
Onvo users have access to more than 1,800 compatible battery swap stations across China.
Last month, the brand waived the 3,000 yuan ($410) fee to upgrade from the standard 65kWh pack to the long-range 85kWh version, reducing the cost to just 1 yuan.
Following leadership changes in April, the brand has resumed hiring this week as it works to help the Nio Group meet its 2025 delivery target of 440,000 units.
