Written by Cláudio Afonso | LinkedIn | X
Nio’s founder and CEO, William Li, reiterated the company’s goal of doubling sales in 2025 to a total of 440,000 electric vehicles across the three brands.
At a media event in Shanghai this Wednesday, William Li acknowledged that the target “looks challenging,” but described it as “reasonable,” citing the planned 2025 launch of Firefly, Nio’s second sub-brand, which aims to capture a more affordable market segment.
This year, Nio expects to deliver approximately 220,000 vehicles, the majority of which will come from its main Nio brand. However, this dynamic is expected to shift next year, with its mass-market sub-brands Onvo and Firefly projected to account for a significant portion of the targeted 440,000 units.
As reported by local media outlet ITHome, the chief executive stated that Nio would avoid participating in a price war and would focus on maintaining stable pricing. Over the last few months, Tesla, Li Auto, Polestar, and several other carmakers announced significant incentives to boost year end sales.
Commenting on the October and November delivery figures, William Li explained that the decline was not driven by the Onvo sub-brand but rather by “a significant rollback of promotions.”
The chief executive defended that Onvo helps the main brand selling more units, “Even last month, Onvo helped Nio sell two to three hundred vehicles.”
Commenting on t the United States’ recent restrictions on semiconductor-related exports to China, Li stated that the company is evaluating the impact, as reported by Reuters.
Onvo delivered 832 vehicles in September — with deliveries beginning only on September 28 — and had initially targeted 5,000 units for October, its first full month of production. However, actual deliveries fell short, totaling 4,319 units. For the full month of November, Onvo delivered 5,082 vehicles, up 17.6% from October when it delivered 4,319 units.
Citi analyst Jeff Chung, citing information from Nio’s management, said last week that the issue stemmed from battery supply constraints. BYD was only able to supply 5,000 to 6,000 units per month in October and November. An Onvo executive admitted earlier this week the existence of a “limited battery production capacity at the moment.”
Despite recent slower-than-expected production ramp-up, William Li reaffirmed on Wednesday the company’s goal of delivering 10,000 Onvo vehicles in December and 20,000 Nio-brand units.
Written by Cláudio Afonso | LinkedIn | X
