- Li's remarks imply that Onvo delivered at least 6,160 vehicles in May.
- Deutsche Bank estimates that Nio Inc delivered 27,000 vehicles in May, including 7,000 from Onvo.
Nio (NYSE: NIO) sub-brand Onvo saw growth in deliveries this month, despite a significant reduction in its sales team.
Onvo's sales staff was reduced by 40 percent, but May deliveries increased by at least 40 percent, Nio founder, chairman, and CEO William Li said today.
Li mentioned these figures during a forum on the first day of the Guangdong-Hong Kong-Macao Greater Bay Area International Auto Show, or the 2025 Shenzhen auto show, according to a video viewed by CnEVPost.
Nio showcased a total of nine models at the auto show, including those from its main brand and its sub-brands Onvo and Firefly.
Li did not provide further details on Onvo's delivery growth, but it is clearly being compared to April, as the sub-brand only began deliveries in September 2024.
This implies that Onvo delivered at least 6,160 vehicles in May, given that it delivered 4,400 vehicles in April.
Earlier this week, a research note by Deutsche Bank analyst Wang Bin's team estimated that Nio Inc's May deliveries would be about 27,000 units, representing a year-on-year increase of 31 percent and a month-on-month increase of 13 percent.
The team estimated that Nio's main brand would deliver 17,000 vehicles in May, Onvo 7,000, and Firefly 3,000.
Nio and its major peers are expected to announce their May delivery figures tomorrow.
Nio Inc's deliveries in May are expected to be up 31 percent year-on-year and up 13 percent sequentially.
Nio Inc delivered 23,900 vehicles in April, its second-highest monthly total on record, trailing only the 31,138 units delivered in December last year, according to data released on May 1.
The Nio brand delivered 19,269 vehicles in April, representing a year-on-year increase of 23.36 percent and a month-on-month increase of 88.56 percent.
Onvo delivered 4,400 vehicles in April, down 8.71 percent from 4,820 in March.
Firefly delivered 231 vehicles in April. Its effective delivery dates for April were April 29 and April 30.
Onvo launched its first model, the L60, on September 19, 2024, with deliveries of the five-seat mid-size SUV beginning on September 28.
Nio Inc had high hopes for the L60, but the model's underwhelming performance after its launch forced the company to integrate Onvo's independent sales team with the Nio brand over the past few months.
On April 2, Onvo's first president, Alan Ai, announced his resignation, with his role being taken over by Shen Fei, the former head of Nio Power.
Below are images of Nio's exhibition booth at the 2025 Shenzhen auto show:
The changes focus on Onvo, which remains a sub-brand but will operate as a first-tier division of Nio.
