Nio Inc’s sub-brand Onvo remains on track to meet its December delivery target, despite slower weekly figures earlier in the month, according to a statement by Onvo President Alan Ai on the Onvo App.
Ai reaffirmed that the Onvo L60, the brand’s first model, will surpass 10,000 deliveries in December. “Onvo’s deliveries will ramp up this month,” Ai said, highlighting plans for the brand’s service centers to reach 350 by year-end, covering 200 cities.
The Onvo L60, launched on September 19 and with deliveries starting September 28, has achieved steady growth. Monthly deliveries for the model have totaled 832 units in September, 4,319 units in October, and 5,082 units in November, according to previously released Nio data. Production capacity for the Onvo L60 is projected to reach 10,000 units in December and scale to 16,000 units by January 2025, with further expansion to 20,000 units by March, Nio CEO William Li stated in September.
Insurance registration data over the past 10 weeks reflects a general upward trend for the Onvo L60, though occasional dips have caused some concern. Last week, registrations stood at 1,700 units, a 19% increase from the prior week’s 1,430 but below the late November peak of 1,760 units, data from CnEVPost indicated.
Nio’s broader brand also saw growth, with weekly registrations climbing 19% to 4,400 units. Achieving December’s targets is critical for Nio to meet its fourth-quarter delivery guidance of 72,000 to 75,000 vehicles, requiring at least 30,449 units to be delivered this month. “We are confident we will meet our fourth-quarter deliveries guidance,” Li said on December 12, responding to a media query.
Onvo has also emphasized its focus on enhancing the customer experience. Ai announced that a software update will be released later this month to improve the driving experience, sharing his own satisfaction with the L60. “I also drive the Onvo L60 to and from work on weekdays, and this kind of traveling experience brings more joy to my life,” he said.
The Onvo L60 recently became the first all-electric model to receive a 5-star rating in the 2024 C-NCAP crash tests, further solidifying its position in the competitive electric vehicle market, Ai added.