That's about 100 days after the L60 was launched, meaning the model has delivered at least 9,767 units so far this month.
Onvo, a sub-brand of Nio (NYSE: NIO), has seen cumulative deliveries of its first model, the L60, exceed 20,000 units, with its goal of delivering 10,000 units this month basically secured.
Onvo announced today on Chinese social media platform Weibo that cumulative deliveries of the L60 exceeded 20,000 units, about 100 days from launch.
The Nio sub-brand officially launched the L60, an electric SUV (sport utility vehicle) that is a competitor to Tesla's (NASDAQ: TSLA) Model Y, on September 19, with deliveries starting on September 28.
The latest milestone means the Onvo L60 has delivered at least 9,767 units so far this month, considering its cumulative deliveries at the end of November were 10,233 units, CnEVPost calculations show.
Over the past three months, monthly deliveries of the Onvo L60 have been 832, 4,319 and 5,082, respectively.
The model, aimed at the mass market, starts at RMB 206,900 ($28,350) including the battery pack, RMB 43,000 lower than the Tesla Model Y's current starting price of RMB 249,900 in China.
Nio management said after the launch of the Onvo L60 that the model's production capacity was expected to reach 10,000 units in December, at least 16,000 units in January 2025 and 20,000 units by March.
It is seen as crucial for Nio Inc to boost sales, and therefore profitability, though the slow capacity climb in the early days of availability has raised some concerns.
Onvo's chief has repeatedly emphasized over the past few months that the brand is on a set pace with L60 production in an attempt to assuage those concerns.
Onvo's deliveries would be ramped up this month, with more than 10,000 vehicles sure to be delivered in December, the brand's president, Alan Ai, said on December 18 in a post on the Onvo App.
Onvo's service centers would reach 350 by the end of the year, covering 200 cities, he said at the time.
Nio Inc delivered 20,575 vehicles in November, including 15,493 under the main Nio brand that is targeting the premium market.
The company last month guided that fourth-quarter vehicle deliveries would be in the range of 72,000 to 75,000, meaning that it could deliver at least 30,449 vehicles in December.
Responding to a question from CnEVPost in a media meetup on December 12, Nio founder, chairman, and CEO William Li said the company was confident of meeting its fourth-quarter deliveries guidance and more than 30,000 units would be delivered by Nio Inc in December.
Nio and its major local counterparts are expected to announce December delivery figures on January 1.
($1 = RMB 7.2982)
Nio expects Onvo sub-brand to sell around 240,000 units in 2025, report says
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