Written by Cláudio Afonso | LinkedIn | X
Onvo, the sub-brand of the EV maker Nio, registered 1,300 vehicles in China between November 18 and 24, data from new energy vehicle (NEV) maker Li Auto showed on Tuesday.
The figures represent a 27.5% week-over-week increase from 1,020 units sold in the previous week and match the record of 1,300 units achieved earlier in November. At the Guangzhou Auto Show, Onvo President Alan Ai announced that deliveries of the Onvo L60 had exceeded 7,000 units as of November 14, 47 days after they began in China.
Despite recent slower-than-expected production ramp-up, the executive has reaffirmed the company’s goal of delivering more than 10,000 units in December and over 20,000 by March next year adding that if these goals are not met, he will step down.
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.
In September plus October, Onvo delivered 5,151 vehicles. Based on the statement from Alan Ai, Nio’s sub-brand delivered over 1,849 units over the first two weeks of November.
The parent brand, Nio, recorded 4,000 units, marking a 5% increase from the previous week. Overall, Nio Group’s registrations rose nearly 10% to 5,300 units, compared to 4,820 in the week of November 11–17.
Last week, the EV maker reported its third-quarter financial results, with management forecasting a sales record for the final quarter of 2024 and projecting sales to double next year, hinting at more than 442,000 units.
Onvo’s chief executive has recently commented on the competition with Xiaomi’s debut SUV, the SU7, which reached 20,000 deliveries in October, seven months after starting nationwide deliveries.
Ai said he is confidence that Onvo’s L60 model would surpass SU7’s production ramp-up, projecting over 20,000 units by the sixth month—one month ahead of Xiaomi’s timeline.
In October, Nio Group delivered a total of 20,976 electric vehicles including 4,319 units of its sub-brand Onvo and 16,657 vehicles of the Nio brand.
Onvo is planning to launch two new vehicles in 2025. A 6-7 seat SUV will be unveiled by the end of the first quarter with deliveries starting “around May” 2025.
A second model, which will be the brand’s first sedan, is planned to be unveiled in the second half of the year, the automotive blogger ThinkerCar said on X last week adding that the brand “will maintain a pace of launching one new vehicle annually in the future”.
The L60’s standard-range model, featuring a 60 kWh battery, is priced at 206,900 yuan ($29,050), while the long-range 85 kWh variant starts at 235,900 yuan ($33,120).
Written by Cláudio Afonso | LinkedIn | X
