EV maker Nio said on Tuesday that its sub-brand Onvo has delivered 6,400 vehicles in June, representing the strongest month of the year and the second-best since it launched last September.
The company prepares to launch its second model, named L90, next month. The five-seat version of the L90 will be named L80 and is planned launch in the last quarter of the year.
The company had set sales targets of 16,000 units for January and 20,000 for March.
However, actual deliveries came in well below expectations — 5,912 in January, 4,049 in February, and 4,820 in March — ultimately leading to the departure of brand chief Alan Ai.
The brand said launched this Tuesday a limited-time promotion for its L60 model, offering three years of free battery swapping and zero-interest financing for July buyers.
Additional benefits include five years of free assisted driving software, a 15,000 yuan government trade-in subsidy, and seasonal gifts such as a car-mounted refrigerator and UV-blocking sunroof film.
The campaign also includes a dedicated incentive package for families of 2025 graduates, the company said.
In early June, Nio founder and CEO William Li said the company was targeting 25,000 monthly deliveries for the Onvo brand in the final quarter of the year, implying a total of 75,000 deliveries for Q4.
Adding the 4,400 units delivered in April and the 6,281 units registered in May, Onvo delivered a total of 17,081 units of its debut model L60 in the second quarter of the year.
In the first quarter, the family-oriented brand had delivered 14,781 vehicles in China.
Including the lower range 60kWh battery pack, the Onvo L60 starts at RMB 206,900 ($28,800) while the entry-level trim of the YU7 with a 96.3kWh battery pack starts 47,000 yuan higher at 253,500 ($35,300).
The Danish automotive publication FDM reported last week that Nio plans to launch Onvo in the Nordic country late next year but sell it under the Nio name.
The brand had set internal delivery targets of 16,000 units for January 2025 and 20,000 for March.
The family-oriented sub-brand, was launched by Nio on May 15, 2024, on China’s Family Day.
The latest weekly figures, released this Thursday, showed that the brand registered 1,670 units.
Onvo President Fei Shen said recently that the company will begin pre-sales of its L90 model in “early July,” with showroom units arriving at stores across China at the same time.
