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NIO’s momentum from a great 2024 carried forward into January, providing the company with 13,863 vehicle deliveries, a 37.9% increase over January 2024.
Notably, a large portion of these sales came from NIO’s new brand, ONVO. ONVO is a more “family-oriented” smart EV brand. 7,951 of the company’s deliveries, 57% of them, were from the NIO brand, while 5,912 deliveries, 43% of them, were from the new ONVO brand.
NIO didn’t have much more to say this month. Most companies would love to see 38% growth year over year, but is 38% growth good enough on the back of launching a new family-oriented brand? NIO brand sales were down year over year from the 10,055 deliveries of January 2024. Still, though, come on — 38% growth is a nice figure to share.
NIO aims to reach profitability by next year. Let’s see how much the company is able to grow with both the NIO and ONVO brand in 2025. 13,863 sales extrapolated out 12 months would equal 166,356 annual sales. I imagine NIO is aiming for something better than that.
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Source: Clean Technica