Onvo’s president, Alan Ai, has reassured stakeholders that the target of delivering over 10,000 units this month will be achieved, despite slower deliveries reported last week. The Nio sub-brand, Onvo, is expected to see a significant increase in deliveries in December, with plans to deliver more than 10,000 vehicles by the end of the month. Additionally, Onvo’s service centers are set to expand to 350 locations, covering 200 cities by the end of the year.
The brand’s first model, the L60, was officially launched on September 19 and deliveries began on September 28. Since then, the Onvo L60 has seen steady growth in deliveries, with 832 units, 4,319 units, and 5,082 units delivered in the last three months, respectively. Production capacity for the model is expected to reach 10,000 units in December, with projections to reach at least 16,000 units by January 2025 and 20,000 units by March.
Weekly insurance registration figures have shown a positive trend in Onvo L60 deliveries, with occasional dips causing some concerns. Despite this, Ai remains confident in achieving the target of over 10,000 units this month. Last week, insurance registrations for Onvo stood at 1,700 units, up 18.88 percent from the previous week, while the Nio brand saw 4,400 insurance registrations, up 18.92 percent from the week before.
Meeting this month’s delivery target is crucial for Nio to meet its fourth-quarter guidance, which aims to deliver between 72,000 to 75,000 units by the end of the year. Nio founder and CEO, William Li, expressed confidence in meeting this target during a media meetup on December 12.
In addition to focusing on deliveries, Onvo is set to release a new software update later this month to enhance the driving experience for users. Ai personally commended the driving experience of the Onvo L60, stating that it brings joy to his daily commute. The model also received a 5-star safety rating in the 2024 C-NCAP crash test, making it the first all-electric vehicle to achieve this feat.
Looking ahead, Nio expects the Onvo sub-brand to sell around 240,000 units in 2025, further solidifying its position in the electric vehicle market. With a commitment to innovation, quality, and customer satisfaction, Onvo is poised for continued success in the coming years.
