Written by Cláudio Afonso | LinkedIn | X
Onvo, the sub-brand of Chinese electric vehicle maker Nio, registered 820 units from November 4 to 10, marking a 37% decrease from 1,300 units in the prior week, according to weekly insurance data released on Tuesday.
The main Nio brand recorded 3,000 units, down 31.8% from 4,400 in the previous week. In total, Nio Group’s registrations stood at 3,820, a decline from 5,700 the week before.
Onvo, which began deliveries of its first model on September 28, is ramping up production at Nio’s factory at the NeoPark, in Hefei. The brand is targeting 10,000 units in December, 16,000 in January and 20,000 by March of next year.
Led by Alan Ai, Onvo aimed for 5,000 units in October, its first full month of production. However, actual deliveries fell short, reaching 4,319 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
