Chinese electric vehicle manufacturer Nio posted strong vehicle deliveries in September, continuing its upward momentum. The company delivered 21,181 units, making it the second-highest monthly total in its history, just behind June’s record of 21,209.
This marks the fifth consecutive month where Nio’s group-wide deliveries exceeded 20,000 units. The majority of these came from the main Nio brand, with 20,349 vehicles delivered, while its new sub-brand Onvo contributed 832 units. Compared to September last year, the company’s deliveries rose by 35.42% and increased by 4.98% from August.
For the third quarter, Nio achieved record-breaking deliveries of 61,855 vehicles, within its guidance range of 61,000 to 63,000 units. This marked an 11.59% increase year-on-year and a 7.81% rise from the second quarter. Cumulatively, Nio has delivered 149,281 vehicles in 2024, representing a 35.72% growth from the previous year.
Onvo, Nio’s recently introduced sub-brand, began deliveries of its first model, the L60 SUV, in late September. Priced competitively at RMB 206,900 ($29,480) including the battery, it offers an alternative to Tesla’s Model Y in China.
The vehicle can also be purchased through Nio’s battery-as-a-service (BaaS) program, with a lower starting price and a monthly battery rental option. While production capacity for the L60 is still ramping up, Onvo expects to meet current demand by the end of the year.
