Written by Cláudio Afonso | LinkedIn | X
Nio’s mass-market sub-brand Onvo delivered 5,912 units of its debut model, the L60, in January, the company said on Saturday, falling well short of its earlier target.
Nio launched the Onvo brand in May 2024 and began deliveries in China in September. The company previously said it expected Onvo L60 production capacity to reach at least 10,000 units in December, 16,000 units in January, and 20,000 units by March.
The brand met its December target, delivering 10,528 units, but January figures released on Saturday showed deliveries were significantly below the 16,000-unit projection.
Onvo has reportedly completed trial production of its second vehicle model, an image shared last week on the social media platform Weibo showed.
The family-oriented brand will launch two new SUV models this year. The L80 is expected to be launched in the second half of this year in China with the timeline for arrival in global markets still unknown.
Although Nio’s total deliveries rose 37.9% year-on-year to 13,863 units, the increase was driven by Onvo, while deliveries of Nio-branded vehicles fell 21% to 7,951 units from 10,055 a year earlier. In January 2024, the company’s total deliveries included only its premium Nio brand.
The January figures come after a record-breaking December, when the group delivered 31,138 vehicles, typically the strongest month for the automotive industry due to year-end sales promotions.
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