Chinese electric vehicle maker Nio (NIO) delivered more than 7,000 vehicles in May, up 4.7%
from a year ago but well below its production capacity due to manufacturing disruptions caused
by recent COVID-19 lockdowns.
Nio said in a statement that its manufacturing is “gradually recovering” from pandemic-related
disruptions, but that its ability to deliver vehicles was “still constrained” by lockdowns and other
measures imposed to limit the spread of new COVID-19 variants in some regions of China.
Nio is working with its suppliers to boost production in June, it said. It expects deliveries to rise
moving forward as restrictions have begun to ease in the nation of 1.4 billion people.
Not all of China’s emerging electric vehicle makers were hit as hard as Nio in May. Rival Xpeng
(XPEV) said it was able to deliver 10,125 vehicles for the month, up 78% from a year ago, as it
resumed two-shift production at its factory in mid-May.
XPeng is based in southern China, near the city of Guangzhou — an area that has fared better
amid the recent COVID-19 outbreaks than the region near Shanghai where Nio is based.
Another rival, Li Auto (LI), said it delivered 11,500 vehicles in May, up 160% from a year ago,
despite pandemic-related disruptions at its suppliers in the Yangtze River region in western
China.
Nio’s stock is down 48% year to date at $17.39 U.S. per share.
Related Stories
