Nio delivered 20,176 vehicles in August, the fourth consecutive month above the 20,000 mark. That's up 4.38 percent year-on-year, though down 1.57 percent from July.

At the end of August, Nio's cumulative deliveries since inception stood at 577,694.

Nio currently has eight models on sale -- ES8, ES7, ES6, EC7, EC6, ET7, ET5, ET5 Touring -- of which the first five are SUVs and the last three are sedans.

It unveiled the ET9 last December, and deliveries of the executive flagship sedan will begin in the first quarter of 2025.

The EV maker gave the debut of its sub-brand Onvo's first model, the L60, on May 15, with the model's official launch set for later this month.

Onvo's first 105 stores opened today in 55 cities across China. General consumers will be able to experience the Onvo L60 up close for the first time, especially with the vehicle system NT.Coconut, which was officially announced yesterday.

The Onvo L60 became available for pre-order on May 15, with a pre-sale price of RMB 219,900 ($31,010) including the battery, which is RMB 30,000 less than Tesla's (NASDAQ: TSLA) Model Y.

In addition to Onvo, Nio will also launch a third brand, internally codenamed Firefly, to target the lower-priced market.

The Nio main brand targets the premium market priced at RMB 300,000 and above, while Onvo targets the mass market priced between RMB 200,000 and RMB 300,000.

The first model of Firefly is expected to be ready by the end of this year, and the smart driving system will be based on a vendor-supplied solution, local media outlet TMT Post reported on August 30.

Firefly's first model falls between a small SUV and a compact SUV, the report said.

($1 = RMB 7.0908)

Nio says over 70% of its car buyers have opted for BaaS battery rental since Mar