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Onvo president Alan Ai addressed the company's shortfall in deliveries, attributing it to a lack of preparation that led to lost orders and diminished consumer confidence. Despite achieving initial goals for the L60 SUV, the target of 20,000 monthly deliveries proved elusive, particularly after the Chinese New Year. Ai emphasized the importance of learning from these challenges for future model launches.
Nio has laid off approximately 10% of its workforce across various teams, primarily affecting the sales and service segments, with significant cuts in the UR Fellow department. The company is restructuring to enhance cost control amid disappointing sales figures for its sub-brand Onvo, which has struggled to meet targets since the launch of the L60 model. Despite these challenges, Nio's battery swap stations are reportedly nearing profitability, with construction costs significantly reduced.
Nio has laid off approximately 10% of its workforce across various teams, primarily affecting the sales and service segments, with significant cuts in the UR Fellow department. The company is restructuring to enhance cost control amid disappointing sales figures for its sub-brand Onvo, which has struggled to meet targets since the launch of the L60 model. Despite these challenges, Nio's battery swap stations are reportedly nearing profitability, with construction costs significantly reduced.
Nio's Onvo brand is gearing up for the launch of the L90 SUV, showcasing a new image that highlights its battery swap capabilities, allowing a full charge in just three minutes. The vehicle, which features a charging port similar to mainstream EVs, was spotted at a battery swap station. Onvo's first model, the L60, began deliveries on September 28, 2024, and the L90 is set to debut in the second quarter of this year.
Tesla's facelifted Model Y deliveries in China will start in late February, ahead of schedule. Meanwhile, BYD saw a significant increase in insurance registrations, while Xiaomi's SU7 continues strong sales. Other EV makers like Nio, Xpeng, and Li Auto also reported varying registration numbers, reflecting a recovery in the market.
Onvo has unveiled the first official image of its flagship L90 SUV, designed for large families, as it prepares to compete with Li Auto's newly announced all-electric SUV, the Li i8. The L90, featuring a three-row seating layout, is set to debut in the second quarter of this year, with an official launch planned for the third quarter. Both models signify an intensifying rivalry in China's electric vehicle market.
Alan Ai
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
onvo president discusses delivery challenges and lessons learned from l60 launch
02:52 18.03.2025
Nio implements layoffs and restructures amid disappointing sales performance
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01:19 12.03.2025
Nio implements layoffs and restructures amid disappointing sales performance
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01:19 12.03.2025
Nio unveils Onvo L90 image highlighting rapid battery swap technology
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China's electric vehicle market sees significant insurance registration increases in February
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Nio Onvo unveils L90 SUV as Li Auto announces Li i8 launch
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