Nio aims to deliver 220,000 cars in 2024, including 20,000 for Onvo
Nio co-founder and president Qin Lihong said the electric vehicle (EV) maker is aiming to deliver 220,000 vehicles in 2024, the first time the company's management has publicly mentioned an overall delivery target.
Qin mentioned the target in an interview with local automotive media Auto Home during the Chengdu auto show, according to a video released.
That includes 200,000 vehicles for the main Nio brand and 20,000 for sub-brand Onvo, Qin said.
"At this point, I think there's reason to be optimistic." Qin said.
Nio delivered 20,176 vehicles in Aug, the fourth consecutive month of deliveries above the 20,000 mark, according to figures it announced on Sep 1.
Year to date, Nio's deliveries stood at 128,100 units, up 35.77% year-on-year.
For the Nio main brand, which is targeting the premium segment, the 200,000-unit whole-year delivery target means that the target will be met if deliveries average about 18,000 units per month for the remaining four months of this year.
Nio guided for third-quarter vehicle deliveries to be between a record 61,000 and 63,000 units, representing year-on-year growth of about 10% to 13.7%, when it reported second-quarter earnings.
The guidance means that it expects Sep deliveries to be in the range of 20,326 to 22,326 vehicles, considering that it delivered 20,498 and 20,176 vehicles in the past two months, respectively.
The EV maker will launch the first model of the Onvo brand, the L60, on Sep 19 and deliveries will begin by the end of Sep.
Nio is aiming to deliver 20,000 Onvo L60 units during this year, and is working on supply chain readiness based on delivering 10,000 units in Dec, William Li, Nio's founder, chairman, and CEO, said in an analyst call.
Nio hopes the Onvo L60 will reach 20,000 units delivered in a single month sometime in 2025, Li said.
Nio's long-term goals for the main brand are 40,000 sales per month and a 25% gross margin, according to Li.
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TMW1986 : Wa.. Means last quarter delivery will pick up fast?
bullrider_21 OP TMW1986 : Year to Aug, Nio's deliveries stood at 128,100 units. For 220,000, the monthly deliveries for the next 4 months will be 22,975.