Chinese EV Maker Nio Trims Third-Quarter Delivery Forecast Amid Chip Shortage, Covid-19
Dou Shicong
DATE:  Sep 02 2021
/ SOURCE:  Yicai
Chinese EV Maker Nio Trims Third-Quarter Delivery Forecast Amid Chip Shortage, Covid-19 Chinese EV Maker Nio Trims Third-Quarter Delivery Forecast Amid Chip Shortage, Covid-19

(Yicai Global) Sept. 2 -- Chinese electric carmaker Nio has pared its forecast for deliveries this quarter due to the global chip shortage and coronavirus pandemic.

Nio revised its projected deliveries to between 22,500 and 23,500 units for the three months through Sept. 30, compared with a previous forecast of between 23,000 and 25,000, the Shanghai-based firm said in statement yesterday.

It delivered 5,880 vehicles last month, up 48 percent from a year ago and down 26 percent from July. Last month’s production was mainly affected by the Covid-19 outbreak in the Chinese city of Nanjing, where interior suppliers are based, and Malaysia, from where chips are shipped, The Paper reported yesterday, citing insiders at the company.

In pre-market trading in New York, Nio [NYSE:NIO] was up 0.3 percent at USD39.18 as of 4:57 a.m. local time, after closing 0.6 percent lower yesterday.

Chinese EV makers Li Auto and Xpeng also disclosed last month’s delivery data yesterday, without making any forecasts for the third quarter.

Beijing-based Li Auto delivered 9,433 of its Li One, the firm’s only sales model, up 248 percent from a year earlier and 9.8 percent from July, setting a record monthly high. Guagzhou-based Xpeng delivered 7,214 cars, a 172 percent increase from 2020, but down 10.3 percent from July.

Nio, which had been the leader in deliveries for a long time, ranked third in the country for the second consecutive month. Despite this, it still leads the annual ranking with a total of 55,767 units, followed by Li Auto and Xpeng with 48,176 and 45,992, respectively.

Li Auto [NASDAQ:LI] closed down 1.3 percent at USD30.47 yesterday. Xpeng [NYSE:XPEV] fell 4.1 percent to USD40.78.

Editor: Futura Costaglione

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Keywords:   Nio,Li Auto,Xpeng,Chips,Covid-19