Nio’s sub-brand Onvo has appointed Shen Fei as its new president after Alan Ai announced his departure from the role earlier on Today.
Shen, previously head of Nio Power, confirmed his new position in a post on the Onvo App, marking his first public statement since the leadership transition.
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“As a veteran involved in building Nio Power’s service network, I take on a new challenge today and am confident that I’ll be joining you all on this new journey,” Shen wrote. “My team and I will continue to work diligently on service delivery and building an efficient marketing system.”
Shen emphasized that Onvo’s future growth would rely on its existing customer base, which includes more than 700,000 Nio and Onvo vehicle owners. “Both the L60 and the soon-to-be-unveiled L90 are some of the most desirable vehicles of this era that spend every penny on peace of mind and freedom,” he added.
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The Onvo L60, a midsize SUV, was launched in September last year, while the L90, a mid-to-large SUV, is set to debut at the Shanghai auto show later this month.
An internal memo reviewed by CnEVPost revealed that Shen will report directly to Nio co-founder and president Qin Lihong. His previous role at Nio Power will now be overseen by Nio’s Chief Financial Officer, Stanley Qu.
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Ai’s departure follows the L60’s underwhelming sales performance despite its market positioning. In his farewell post, Ai acknowledged the challenges faced by Onvo’s first model, stating that his team had not achieved the sales figures expected for the vehicle.
Shen, who has been with Nio since 2015 and is among its longest-serving senior executives, hosted Onvo’s flexible battery upgrade service launch event in February. His appointment signals a renewed focus on strengthening Onvo’s market presence.
Source: Cnevpost