Summary
- Nio delivered 21,181 vehicles in September, the second-highest on record
- Onvo contributed 832 vehicles to Nio’s deliveries
- Nio has delivered over 20,000 vehicles for five consecutive months
- Nio delivered a record 61,855 vehicles in the third quarter
- Onvo’s first model, the L60, is on sale starting at RMB 206,900
Article
In September, Nio delivered a total of 21,181 vehicles, the second-highest number on record for the company. This figure included 20,349 vehicles from the main Nio brand and 832 vehicles from the sub-brand Onvo. This marked the fifth consecutive month that Nio had exceeded the 20,000 mark in vehicle deliveries. The monthly deliveries were up 35.42 percent from the same period the previous year and up 4.98 percent from the previous month of August. Overall, Nio delivered a record 61,855 vehicles in the third quarter, which was within the guidance range of 61,000 to 63,000 vehicles.
So far in 2021, Nio has delivered a total of 149,281 vehicles, which represents a 35.72 percent increase year-on-year. At the end of September, Nio’s cumulative deliveries since inception stood at 598,875, approaching the 600,000-unit milestone. Onvo, Nio’s sub-brand, released its first model, the L60, on September 19 at a starting price of RMB 206,900 ($29,480) including the battery pack. This price was RMB 43,000 lower than the current starting price of RMB 249,900 for the Tesla Model Y in China. Additionally, the L60 could be purchased on a BaaS basis with a monthly battery rental fee.
On September 28, Onvo began delivering the L60 in China, although production capacity currently limits the number of deliveries. The company assured customers that those who order the L60 now would receive their vehicles within the year, despite the production challenges. Onvo expressed confidence that these bottlenecks would be resolved quickly to ramp up capacity. The company emphasized that they were committed to meeting customer demand for their new model and ensuring timely deliveries. Overall, the launch of the L60 marked an important milestone for Onvo as it entered the competitive electric vehicle market in China.
Nio’s strong performance in vehicle deliveries throughout the year demonstrates its continued growth and success in the Chinese EV market. The company’s ability to consistently deliver over 20,000 vehicles each month indicates strong demand for their products and a growing customer base. Nio’s focus on expanding its offerings through sub-brands like Onvo shows its commitment to innovation and diversification within the EV industry. As Nio continues to exceed delivery expectations and expand its product line, it is poised to remain a key player in the rapidly evolving electric vehicle market in China and beyond. The company’s strategic approach to production and delivery challenges positions it well for future growth and success in the competitive EV space.
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