Nio

Deutsche Bank analysts expect deliveries to double in 2025 for both Nio and Xpeng, with Li Auto growing 40 percent.

Nio completed its first battery swap station in Shenzhen on May 20, 2018, and reached 2,000 on October 26, 2023.

More promotion boosted December deliveries of the Nio brand, while the increase of Onvo was due to improving supply, said analysts at Deutsche Bank.

Nio Inc (NYSE: NIO) delivered a record 31,138 vehicles in December, including 20,610 vehicles under the Nio brand and 10,528 under the Onvo sub-brand.

William Li said Nio's single-month deliveries exceeded 30,000 units for the first time in December. The company is expected to announce specific figures in a few hours.

Customers who buy a Nio-branded or Onvo-branded model in January can take advantage of benefits including a 3-year 0-interest rate financing plan.

Delivery wait time for the Onvo L60 has been reduced to 4-6 weeks from 8-10 weeks previously, after the model saw record insurance registrations last week.

Nio today added a record 64 battery swap stations in China, bringing the total number to 2,995.

Xiaomi had 6,700 insurance registrations last week, Li Auto 13,400, Xpeng 10,100, Zeekr 8,900, Leapmotor 9,200 and Aito 8,200.

The most noticeable change in the model from the existing Nio models is the center screen that has gone from vertical to horizontal.