Deutsche Bank expects the Nio main brand to launch four new products and sub-brand Onvo to launch two new products in 2025.
Deutsche Bank expects Nio (NYSE: NIO) to launch six new products next year, including new models and refreshes of existing models, driving further growth in deliveries.
Nio's sub-brand Onvo will launch a ultra-large SUV and a mid-size SUV in 2025, based on the NT 3.0 platform, analyst Wang Bin's team said in a research note today.
The ultra-large SUV, codenamed BLANC, will be larger than Onvo's first model, the L60, while the midsize SUV, codenamed Weisshorn, will be smaller than the L60, according to the team.
The Onvo L60 is Nio's first model based on the NT 3.0 platform and will hit the market on September 19.
Based on the same NT 3.0 platform, the Nio main brand will launch four new products in 2025, including the ET9 sedan code-named Leo, the ES8 SUV code-named Draco, the ES7 SUV code-named Cetus and the ET6 sedan code-named Vela, according to Wang's team.
Nio currently has eight models on sale -- ES8, ES7, ES6, EC7, EC6, ET7, ET5, ET5 Touring -- of which the first five are SUVs and the last three are sedans.
Earlier this year, the company launched the 2024 model year refreshes for these eight models with minor updates to the specifications. There were no new models for the Nio main brand throughout this year.
It unveiled the ET9 last December, and deliveries of the executive flagship sedan is expected to begin in the first quarter of 2025.
Of the four new products Wang's team predicts for the Nio main brand, only the ET6 is a new model yet to be unveiled.
The team expects Nio's total sales in 2025 to grow 44 percent year-on-year to 330,000 units, with 210,000 units under the Nio brand, 110,000 under Onvo and 10,000 under the third brand codenamed Firefly.
Nio will be hosting Nio Day 2024 in Guangzhou at the end of this year, which is its most important annual event and usually sees the launch of new products and technologies.
But so far, there are no clues about any models or technologies that Nio will unveil at the event.
Notably, Nio's management said in an earnings call yesterday that the company will start delivering Firefly's first model in 2025, and that product preparations are going well so far.
Nio is targeting 20,000 Onvo L60 deliveries during this year and wants the model to reach 20,000 deliveries in a single month sometime in 2025, the company's management said.
Nio's long-term goals for the main brand are 40,000 sales per month and 25 percent gross margin, its management said.
Separately, Nio co-founder and president Qin Lihong said in a recent interview with local automotive media outlet Auto Home that the EV maker is targeting to deliver 220,000 vehicles in 2024, including 200,000 under the Nio main brand and 20,000 under Onvo.
Nio aims to deliver 220,000 cars in 2024, including 20,000 for Onvo
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