Nio’s family-focused sub-brand Onvo has not confirmed reports of battery supply problems affecting its new L90 SUV, after several local automotive bloggers earlier this week said the model was facing shortages.
The L90, a six and seven-seat SUV launched on July 31 with deliveries starting August 1, has seen lead times extend from 4–5 weeks at launch to 8–10 weeks.
In a post on the social media platform Weibo on Thursday, Onvo head Shen Fei said production and deliveries were “still in full swing” and the company was “continuously improving the overall battery swap experience.”
“We are going all out to accelerate the production and delivery of the Onvo L90,” Shen wrote.
As of press time, US-listed shares of the EV maker were rising 2.5% in Friday’s pre-market session to $4.56.
Nio owners use 75 kWh or 100 kWh batteries, while its sub-brand Onvo uses 60 kWh and 85 kWh packs.
As a result, Onvo must stock swap stations nationwide with 85 kWh batteries to allow L60 and L90 owners to exchange their packs for fully charged ones when needed. Fei Shen said the number of batteries for Onvo customers has been “steadily increasing.”
“In different cities nationwide and along major transportation routes, we have been steadily increasing the number of 85 kWh battery packs at swap stations,” the executive stated.
“Production and deliveries are still in full swing, and the charging and energy replenishment experience is also continuously improving. Keep powering up,” he added.
Onvo has attributed the extended waiting times for the vehicle deliveries to a “rapid surge in order volume” despite what it described as “relatively sufficient production preparations in advance.”
To stem cancellations for the new model, Onvo introduced earlier this week an “L90 Waiting Points” programme: if the car isn’t delivered within 28 days of the order lock, customers accrue 500 points per day from day 29.
Shares of Nio fell 8.96% on Tuesday to $4.47, erasing gains from the previous four sessions. Morgan Stanley said in a note on Wednesday that the drop was linked to production concerns over the L90 and speculation about a potential capital raise.
Analyst Tim Hsiao cited “concerns over L90 production ramp-up and delivery” as the main driver but said the brokerage’s checks suggested the worry may be overdone.
Weekly insurance registration data for August 4–10 showed Onvo’s total registrations in China fell 13.5% from the prior week, while L90 registrations rose 5.6% to 2,090 units, well below the more than 20,000 units the brand says are ready for handover.
Earlier this Friday, the Nio core brand unveiled the first images of the ES8 interior. The revamped version of the SUV will be prelaunched on August 21, with the official launch planned for late September.
