Onvo's president re-emphasized that this month's target of delivering more than 10,000 units will be met, after weekly data showed that deliveries remained slow last week.
The head of Nio Inc (NYSE: NIO) sub-brand Onvo has re-emphasized that delivery target will be met this month, after weekly figures showed deliveries remained slow last week.
Onvo's deliveries will ramp up this month, with more than 10,000 vehicles sure to be delivered in December, the brand's president Alan Ai said today in a post on the Onvo App.
Onvo's service centers will reach 350 by the end of the year, covering 200 cities, he said.
The Nio sub-brand officially launched its first model, the L60, on September 19 and began deliveries on September 28.
Onvo L60 has delivered 832 units, 4,319 units and 5,082 units in the last three months, respectively, according to data previously announced by Nio.
The model's production capacity was expected to reach 10,000 units in December, William Li, Nio's founder, chairman and CEO, said in a September 20 media communication.
Capacity for the model would reach at least 16,000 units by January 2025 and 20,000 units by March, Li said at the time.
Weekly insurance registration figures for the past 10 weeks show deliveries of the Onvo L60 are generally on the upswing, but have occasionally saw dips, raising some concerns.
On November 27, Ai reiterated on Weibo that he was confident the Onvo L60 would deliver more than 10,000 units in a single month in December.
Last week, Onvo's insurance registrations stood at 1,700 units, up 18.88 percent from the previous week's 1,430, though still lower than the 1,760 units recorded in the last week of November, according to data compiled by CnEVPost.
The Nio brand had 4,400 insurance registrations last week, up 18.92 percent from 3,700 the week before.
Achieving this month's delivery target for the Onvo L60 will be critical for Nio to meet its fourth-quarter guidance.
Nio Inc last month guided for fourth-quarter vehicle deliveries to be in the range of 72,000 to 75,000 units, meaning that it was expecting to deliver at least 30,449 vehicles in December.
In a media meetup on December 12, Nio founder, chairman and CEO William Li, in response to a question from CnEVPost, said the company is confident it would meet its fourth-quarter deliveries guidance and deliver more than 30,000 units in December.
Ai mentioned in today's post that Onvo will push out a new software release later this month to optimize the driving experience.
“I also drive Onvo L60 to and from work on weekdays, and this kind of traveling experience brings more joy to my life,” he said.
In the 2024 edition of the C-NCAP crash test, the Onvo L60 became the first all-electric model to receive a 5-star rating, Ai added.
Nio expects Onvo sub-brand to sell around 240,000 units in 2025, report says
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