With the launch of its new electric SUV, NIO (NIO) sales reached 20,000 again in Oct, its sixth consecutive month to reach the milestone.
NIO sold 20,976 cars last month, up 30.5% from October 2023. The NIO brand sold 16,657 cars, while its family-oriented smart car brand, Onvo, posted 4,319 in the first month. full sales.
After launching its new Onvo L60 mid-size electric SUV in September, NIO said production and deliveries are ramping up.
At the end of October, NIO's Onvo had 166 Centers and Spaces across 60 cities. Onvo plans to continue expanding its network to drive future growth.
NIO's new electric SUV starts at around $21,200 (149,900) and is a direct competitor to Tesla's Model Y. The $21K base model is if you rent the battery. Even with the battery included, Onvo L60 prices still start below $30,000 (206,900 yuan), with a CLTC range of up to 341 miles (555 km). That's still less than the Model Y.
Tesla's Model Y RWD starts at around $35,000 (249,900 yuan) with a range of 344 mi (554 km) CLTC in China.
NIO's new Onvo brand makes the highest sales for Oct
NIO often compares its new electric SUV to the Model Y, saying it is better in many ways. The L60 uses a better 12.1 kWh/100km compared to the Model Y which reaches 12.5 kWh/100km).
With a longer wheelbase (2,950 mm vs 2,890 mm), NIO's electric SUV also offers more interior space.
Despite the L60's success so far, NIO believes its second Onvo model will be an even bigger hit. It could be a game changer.
“If you think the L60 is good, this new model is a very competitive product,” NIO CEO William Li told. CnEPPost after launching the L60. Onvo will launch a new EV every year. Following the L60, Onvo will launch a mid-to-large electric SUV next year.
The leader of NIO says that the new model will have changes. According to Li, it will offer more surprises than the L60. Deliveries are scheduled to begin in Q3 2025.
| NIO Onvo L60 vs Tesla Model Y breakers | Distance (CLTC) |
Starting Price |
| 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 Model Y RWD | 554 km (344 mi) | 249,900 yuan ($34,600) |
| Tesla Model Y AWD Long Range | 688 km (427 mi) | 290,900 yuan ($40,300) |
| Tesla Model Y AWD Performance | 615 km (382 mi) | 354,900 yuan ($49,100) |
Local reports suggest that an electric SUV with six or seven seats may hit the market soon. With a rumored launch around Q1 2025, delivery could happen as soon as May 2025.
According to sources close to the matter, the L60 is a “stepping stone” with even more exciting EVs on the way. The source said the new six-seater option will start at around $42,100 (300,000 yuan).
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