Chinese battery electric vehicle (BEV) start-up Nio Inc, headquartered in Shanghai, has announced it delivered 20,976 vehicles in October 2024, representing an increase of 30.5% year-over-year. The deliveries consisted of 16,657 vehicles from the company’s premium smart electric vehicle brand Nio, and 4,319 vehicles from the company’s family-oriented smart electric vehicle brand ONVO. Cumulative deliveries reached 619,851 as of October 31, 2024.
The company said the production and delivery of the ONVO L60 have been steadily ramping up. As of October 31, 2024, ONVO operated 166 ONVO Centers and ONVO Spaces across 60 cities, while also providing users with access to 584 Nio Power Swap Stations in China.
The company said ONVO will continue to expand its sales, service and power networks to serve a growing user base and drive long-term growth.
In September, Nio announced it has entered into a definitive agreement with a consortium of domestic investors and existing shareholders to secure CNY3.3bn (US$471m) in new funding for its main manufacturing subsidiary Nio Holding Company – known as Nio China
The fresh capital will help sustain the company’s new technology development and manufacturing operations, which are located in Hefei in neighbouring Anhui province. Nio has two vehicle assembly plants in the province and a third facility was given the go-ahead earlier this year, which would increase the company’s overall annual production capacity to 1 million vehicles.
