Nio Inc. (NYSE:NIO) shares traded lower in premarket Friday even as its Onvo sub-brand announced a milestone achievement at the 2025 Chengdu auto show.
The weakness comes ahead of August delivery figures, with investors cautious about whether demand growth can keep pace with expectations.
The company also reportedly revealed that its flagship electric SUV, the L90, surpassed internal delivery targets this month, marking a significant accomplishment for the fast-growing brand, reports CnEV Post.
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During the first day of the auto show, Onvo confirmed that L90 deliveries had hit 10,000 units, setting a new monthly record.
The announcement was made by Shen Fei, president of the Onvo brand, while Nio co-founder Qin Lihong personally handed over the milestone vehicle to Chinese actor Guo Tao at the event, the report adds.
The L90’s success builds on the foundation of the L60 midsize SUV, which began deliveries in late 2024.
Onvo’s prior monthly high stood at just over 10,500 units last December. At Chengdu, the brand also debuted the seven-seat version of the L90, signaling a strategy to appeal to larger families and more diverse consumer groups, CnEV Post adds.
In a separate development, Nio reportedly revealed that every model under its main brand will now ship with a 100-kWh long-range battery pack as standard equipment, CnEV Post reports.
The company previously offered a 75-kWh pack as the entry option, with customers paying extra for extended range.
The new update applies immediately to its entire lineup, which includes the ET5, ET5 Touring, ES6, EC6, ET7, and EC7. Despite the upgrade, prices remain unchanged, creating added value for buyers.
By boosting Onvo’s delivery records and upgrading core vehicles with long-range batteries, Nio aims to cement its position in China’s competitive EV sector.
The standardization of extended-range packs signals a push to improve affordability and consumer appeal, while Onvo’s rapid scaling demonstrates the brand’s potential as a key growth driver.
Price Action: NIO shares are trading lower by 1.08% to $6.440 premarket at last check Friday.
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