Skip to content
Home ยป NIO CEO William Li Shares Hits 500K EV Deliveries and ONVO Sub-Brand Coming

NIO CEO William Li Shares Hits 500K EV Deliveries and ONVO Sub-Brand Coming

NIO CEO William Li Shares Hits 500,000 Deliveries and ONVO Sub-Brand Coming

As NIO celebrated its 500,000th vehicle rolling off the production line, company founder and CEO William Li took the opportunity to double down on the premium automaker’s ambitious roadmap. From its high-end roots to rapid charging infrastructure expansion and the imminent launch of its new mass-market ONVO brand, William Li made it clear that NIO remains laser-focused on driving the EV upheaval.

While 500K total deliveries may seem like a drop in the bucket for automotive giants, Li heralded the figure as an important achievement for the Chinese EV trailblazer started just 10 years ago.

“500,000 units is still a very important milestone for NIO, from the first car in 18 years to today, it’s still not easy. Thanks to the support of our customers,” Li stated.

The CEO lauded NIO’s high-end beginnings as central to its strategy of “positive R&D” and investments in ubiquitous charging and battery swap infrastructure from the outset. This premium approach of exceeding customer expectations has allowed NIO to become China’s first domestic brand succeeding above the 300,000 RMB (around $42,000) luxury vehicle tier.

Big Plans for NIO’s Battery Swap System

Among NIO’s key sustainable advantages is its unique battery swap ecosystem which allows owners to rapidly swap depleted battery packs for fresh ones. Li proudly noted that while critics initially thought swapping was “a bit of a struggle,” there are now 7 different alliances utilizing NIO’s pioneering swap technology.

CEO William Li boldly proclaimed that NIO’s swap stations are akin to the evolution of cloud computing services, full speed ahead with massive battery swap and charging expansion. Just as Amazon’s groundbreaking cloud offerings took over a decade to reach the public, Li believes battery swapping will follow a similar maturation path before being widely adopted.

“Battery swap stations are very similar to cloud services…Charging is open to the public on the first day, and power swap is open to the public on the first day. But the difficulty of opening up power exchange is very high,” Li stated.

That’s where NIO’s new mass-market brand ONVO comes into play. Set to debut its first models in the second half of 2024, ONVO will leverage NIO’s swap station infrastructure and intellectual property to offer battery swap capabilities to the mainstream EV market.

“NIO ONVO is not starting from scratch; it is NIO’s system capabilities that define the products and provide services,” Li explained, adding that ONVO will launch with a network of 1,000 swap stations right off the bat. By comparison, it took NIO two years to build its first 200 stations.

Setting the Efficiency Benchmark

Beyond swap stations, Li made sure to tout ONVO’s upcoming efficiency flagship, the L60 model. He declared the vehicle’s impressive energy consumption figures have set “a benchmark for family cars” that aims to match or exceed even Tesla’s most efficient offerings.

“You really need to be careful with your calculations and manage your household well. It wouldn’t be right if we didn’t do as well as Tesla,” Li stated regarding the L60’s low power draw.

At the end of the day, William Li bold statements seem squarely aimed at priming NIO and its new ONVO brand to conquer both the premium and mainstream EV markets in China. With the Tesla Model Y challenger ONVO L60 under its belt, rapid swap station rollouts, and an incredibly efficient mass-market EV in the pipeline, NIO is playing a multi-pronged offensive.


Simply put, Li appears convinced that NIO’s head start in both premium brand cachet and swap infrastructure – combined with ONVO’s imminent arrival – give it a decisive edge in the Chinese EV battleground. While Tesla tries to singlehandedly tackle multiple fronts, NIO already has a divide-and-conquer strategy in motion.

Share on: