Written by Cláudio Afonso | LinkedIn | X
Nio announced Friday it delivered 20,976 electric vehicles in October, including 4,319 units of its sub-brand Onvo. Nio brand delivered 16,657 vehicles, up from 16,074 units recorded in October 2023 but 3,692 fewer EVs than September’s figures.
Onvo, which unveiled its first model, the L60, last May and started deliveries on September 28, had forecasted to reach 5,000 units delivered in October. The target for December is 10,000 units, while March is expected to see 20,000 units of the family-oriented SUV, according to the company’s management.
Nio said that, as of Thursday, its sub-brand operates 166 Centers and Spaces across 60 cities in China. Onvo customers now have access to 584 Battery Swap Stations as the company speeds up the pace of upgrades and the launch of new stations in the country.
Earlier this week, Onvo‘s president Alan Ai said the Xiaomi SU7 “has been an outstanding product” while adding that the Onvo L60 will outpace Xiaomi’s production ramp up and delivery results.
Despite Nio not disclosing any pre-order or order figures, Deutsche Bank analyst Wang Bin recently stated that Onvo has received over 30,000 non-cancelable orders since its launch.
Alan Ai added that the Onvo L60 will surpass SU7’s numbers regarding the production ramp-up adding that the company aims to reach over 20,000 by the sixth month, one month earlier than Xiaomi.
“The target for the L60 is to surpass 10,000 units by the third month and reach over 20,000 by the sixth month, and we are all working hard toward this goal,” Alan Ai said.
When asked about the competition with Xiaomi’s EV model, Nio Group CEO said last May that “Onvo‘s positioning is clear, it’s aimed at the family market.” Li added that “while Xiaomi’s SU7 is expected to perform well, our Onvo L60 will have better sales.”
Onvo began nationwide deliveries on September 28, delivering 832 units in the last days three of the month. The long-range variant of the L60, equipped with an 85 kWh battery, will start being delivered in December.
As reported earlier this week, Onvo registered 1,200 units in the fourth week of October bringing month to date figures to 3,430 units.
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”.
On Monday, Onvo president Alan Ai said Nio has opened 18 new fourth-gen battery swap stations last week while upgrading 53 third-gen stations — making them compatible with the Onvo vehicles — as it speeds up the charging and swapping infrastructure.
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
