As of November 14, more than 7,000 units of Onvo's first model, the L60, have been delivered, Alan Ai, president of the Nio (NYSE: NIO) sub-brand, said today at a media briefing on the first day of the 2024 Guangzhou auto show.
Ai reiterated Onvo's goal of seeing more than 10,000 units delivered in a single month in December and more than 20,000 units delivered in a single month in March 2025.
Orders for the Onvo L60 far outperformed those for other models launched at the same time, with production orders already lined up for the first quarter of next year, Ai said.
Onvo officially launched the L60 on September 19 and started deliveries on September 28.
The model's production capacity was expected to reach 5,000 units in October and 10,000 units in December, William Li, Nio's founder, chairman and CEO, said in a September 20 media communication.
By January 2025, the model's capacity would reach at least 16,000 units and 20,000 units in March, Li said at the time.
In the week ending November 10, the Onvo L60 had 820 insurance registrations in China, down from 1,300 vehicles the week before, according to data monitored by CnEVPost.
The model's combined insurance registrations in China since the end of September through the end of last week were 6,320 units.
Of the Onvo L60's customers, 90 percent were adding a new vehicle to their family or replacing an existing one, Ai said today.
Among these customers, the majority are Tesla Model 3 owners and 30 percent are owners of German luxury brands BMW, Mercedes-Benz and Audi.
Ai also reiterated that the number of battery swap stations available to Onvo will exceed 1,000 by the end of this year, and will reach 2,000 by April 2025.
As of November 10, a total of 659 Nio battery swap stations were available to Onvo, according to data released by the brand last week.
Onvo is participating in the 2024 Guangzhou auto show, which begins today and runs through November 24th, marking its first participation in a major auto show in China.
Nio Onvo L60 wait time slightly reduced to 10-14 weeks
