Nio’s sub-brand Onvo recorded its second-best weekly registrations since launching nearly a year ago, driven by a production ramp-up of its new L90 SUV and surging demand for the debut model L60.
Over the last six weeks, the company founded and led by William Li has experienced a significant increase in store traffic following the unveiling of two new three-row SUVs: the L90 under the Onvo brand and the third-generation ES8 under the core Nio brand.
Onvo logged 4,104 insurance registrations in China between August 18 and 24, up 8.3% from the prior week’s 3,790 units — figures shared on Weibo on Tuesday showed.
The tally included 2,540 L90s — a new weekly record — and 1,564 L60s, an improvement from 1,460 units in the second full week of August.
The latest figures extend a steady recovery after July’s slower pace. Weekly L60 registrations had fallen as low as 1,140 in late June before rebounding to more than 1,700 units in early August.
The L90, which began deliveries earlier this month, has climbed rapidly from 1,980 units in its debut week (early August) to 2,540 units last week.
Combined, Onvo‘s August performance marks one of its strongest stretches since the five-seat L60 entered the market last September.
The newly launched L90 is on pace to exceed 10,000 registrations in August — a figure widely circulated as Onvo’s internal target, though the company has not confirmed it publicly.
The Shanghai-headquartered EV maker as a whole registered 7,571 vehicles last week, up 5.3% from 7,190 the week prior, according to data shared on Weibo by automotive industry bloggers.
Nio’s core brand accounted for 2,584 registrations, compared with 2,520 the previous week.
Industry blogger ‘孙少军 09′ reported on Monday that increased showroom traffic from the L90 launch and the revamped Nio ES8 boosted momentum for Onvo, helping the brand secure a new order record for the L60.
“Thanks to the L90’s launch and delivery momentum, Onvo’s L60 orders in August rose 30% month-on-month to a record high,” the blogger wrote.
Onvo president Fei Shen also highlighted production strength, writing on Weibo last week: “L90 production is running at full capacity, and just as busy is the L60 production line.
“Recently, L60 locked-in orders have shown strong momentum, and we are going full throttle to ensure deliveries,” he added.
The L60 was unveiled at Nio’s Family Day event in May 2024, with deliveries beginning last September.
US-listed shares of Nio closed 3.94% lower on Monday at $6.09, snapping a four-day winning streak. The stock has still doubled since touching a five-year low of $3.02 in April, when its mass-market brand Onvo sharply missed early sales targets.
The share gains followed another weekend of increased store traffic across Nio‘s showrooms in China, signaling strong demand for the new ES8 pre-launched last week.
The company founded and led by William Li will report its second quarter earnings results on September 2.
