With its new electric SUV rolling out, NIO’s (NIO) sales topped the 20,000 mark again in Oct, its sixth straight month hitting the milestone.

NIO sold 20,976 vehicles last month, up 30.5% from October 2023. The NIO brand sold 16,657 vehicles, while its new “family-oriented smart vehicle brand,” Onvo, contributed 4,319 in its first full sales month.

After launching its new mid-size Onvo L60 electric SUV in September, NIO said production and deliveries are steadily ramping up.

At the end of October, NIO’s Onvo had 166 Centers and Spaces throughout 60 cities. Onvo plans to continue expanding its network to drive future growth.

NIO’s new electric SUV starts at around $21,200 (149,900) and is a direct rival to Tesla’s Model Y. The base $21K model is if you rent the battery. Even with the battery included, Onvo L60 prices still start at under $30,000 (206,900 yuan), with a CLTC range of up to 341 miles (555 km). That’s still less than the Model Y.

Tesla’s Model Y RWD starts at around $35,000 (249,900 yuan) with 344 mi (554 km) CLTC range in China.

NIO’s new Onvo brand drives higher Oct sales

NIO has often compared its new electric SUV to the Model Y, claiming it’s superior in many ways. The L60 has better consumption at 12.1 kWh/100km compared to the Model Y at 12.5 kWh/100km).

With a longer wheelbase (2,950 mm vs 2,890 mm), NIO’s electric SUV also provides slightly more interior space.

Despite the L60’s success so far, NIO believes its second Onvo model will be an even bigger hit. It could be a potential game-changer.

“If you think the L60 is good, then this new model is a much more competitive product,” NIO’s CEO William Li told CnEVPost after launching the L60. Onvo will launch a new EV every year. Following the L60, Onvo will launch a new mid-to-large-size electric SUV next year.

NIO’s leader claims the new model will be revolutionary. According to Li, it will offer even more surprises than the L60. Deliveries are planned to begin in Q3 2025.

Local reports suggest a six-or seven-seat electric SUV could hit the market even sooner. With rumors of a launch around Q1 2025, deliveries could happen as soon as May 2025.

According to sources close to the matter, the L60 is just a “stepping stone” with even more exciting EVs on the way. The source claimed the new six-seat option will start at around $42,100 (300,000 yuan).

Dominion Energy has hit a major milestone in the construction of its Coastal Virginia Offshore Wind (CVOW) project. The company has put in place 78 monopile foundations and four offshore substation foundations during the first installation season, surpassing its initial target of 70 monopiles.

The 2.6-gigawatt (GW) project is located 27 miles off the coast of Virginia Beach and is the US’s largest offshore wind farm under construction.

When complete, CVOW will feature 176 turbines generating enough clean energy to power up to 660,000 homes. Dominion Energy expects the project to save customers $3 billion in fuel costs over the first decade of operation. Construction is on track and on budget, with a projected completion date in late 2026. The project is currently 43% finished.

For the next few months, Dominion will focus on installing the first offshore substation, laying export cables, continuing onshore transmission work, and placing transition pieces on top of monopiles to prepare for turbine installation in 2025.

The monopiles, which are single vertical steel cylinders that support the wind turbines, are being staged at Portsmouth Marine Terminal. They were manufactured by Rostock, Germany-based EEW SPC, and will support turbines supplied by Siemens Gamesa. Installation of the remaining monopiles will resume in May 2025 as planned.

The planned pause is to safeguard the endangered North Atlantic right whale during its migration period through the project area.

CVOW is also boosting Virginia’s economy. Nearly 1,000 workers from the state, including more than 800 in the Hampton Roads area, have been involved in the project so far. Once operational, the CVOW wind farm is expected to create over 1,000 local jobs for ongoing maintenance and operations.

Read more: The US’s largest offshore wind farm just got its first monopile

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