NIO’s (NYSE: NIO) new electrical SUV already seems to be like a success. In simply 100 days since launching, NIO Onvo L60 deliveries reached over 20,000 because the EV maker faucets into the mass market.
NIO Onvo L60 deliveries surge in market debut
It’s been nearly three months since NIO launched its extra reasonably priced Onvo sub-brand in September. The primary mannequin to put on the Onvo badge, the L60 electrical SUV, is already making a major impression.
In a social media put up on Friday, NIO Onvo introduced it took simply 100 days for L60 deliveries to achieve 20,000 cumulatively. In its first full gross sales month, over 4,300 L60 fashions had been bought, or roughly one-fifth of NIO’s complete gross sales in October.
With a beginning value of round $21,000 (149,900 yuan), NIO’s new electrical SUV undercuts many rivals, together with Tesla’s top-selling Mannequin Y, which begins at round $35,000 (249,900 yuan) in China.
The $21K price ticket is for the battery rental mannequin, which incorporates a further $85 (599 yuan) or $125 (899 yuan) per thirty days, relying on the dimensions. Nevertheless, even with the battery, you may nonetheless purchase the L60 for cheaper at round $29,000 (206,900 yuan).
With 832 L60 deliveries in September, 4,319 in October, and one other 5,082 final month, NIO delivered 10,233 by way of November. Which means no less than 9,767 L60 fashions had been delivered in December.
NIO seems to be on observe to hit its purpose of delivering over 10,000 items this month. The corporate mentioned L60 manufacturing is anticipated to double from 10,000 items in December to twenty,000 by March 2025.
This week, the L60 additionally accomplished its first long-range chilly climate take a look at. In energy-saving mode, the electrical SUV drove for 7 hours and 9 minutes throughout highways and roads in China. In the course of the take a look at, the L60 achieved a median vitality consumption of simply 21.0 kWh/100 km in “excessive chilly circumstances.”
NIO’s Onvo electrical SUV is 4,828 mm lengthy, 1,930 mm extensive, and 1,616 mm tall, or about the identical measurement because the Tesla Mannequin Y at 4,750 mm lengthy x 1,921 mm extensive x 1,624 mm tall.
Earlier this month, we discovered NIO will launch the L60 in its first European market in early 2025. Eric Yu, Onvo’s VP of merchandise, informed Automotive Information Europe that the L60 will first debut within the UK.
NIO Onvo L60 vs Tesla Mannequin Y trims | Driving Vary (CLTC) |
Beginning Worth |
NIO Onvo L60 (Battery rental) | 555 km (341 mi) 730 km (454 mi) |
149,900 yuan ($21,200) |
NIO Onvo L60 (60 kWh) | 555 km (341 mi) | 206,900 yuan ($29,300) |
NIO Onvo L60 (85 kWh) | 730 km (454 mi) | 235,900 yuan ($33,400) |
NIO Onvo L60 (150 kWh) | +1,000 km (+621 mi) | TBD |
Tesla Mannequin Y RWD | 554 km (344 mi) | 249,900 yuan ($34,600) |
Tesla Mannequin Y AWD Lengthy Vary | 688 km (427 mi) | 290,900 yuan ($40,300) |
Tesla Mannequin Y AWD Efficiency | 615 km (382 mi) | 354,900 yuan ($49,100) |
Not like the EU, the UK isn’t imposing further tariffs on Chinese language EV imports. Within the EU, NIO, together with Onvo, faces a 31% import tariff.
NIO president Qin Lihong mentioned in an interview with Chinese language media CGTN (through CnEVPost) that the EV maker goals to “develop to as much as 25 completely different nations and areas” by the top of 2025. Onvo will start exporting L60 fashions as soon as manufacturing hits 30,000 per thirty days, which is anticipated early subsequent yr.
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