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Monday, May 02, 2022 10:50:55 AM
By: Investing.com | May 2, 2022
Chinese electric vehicle companies NIO, XPeng, and Li Auto said that supply chain issues resulting from the ongoing COVID situation in the country impacted deliveries in April.
Nio Inc.'s (NYSE:NIO) April deliveries took a significant hit after production was briefly halted during the month due to COVID lockdowns in China. NIO delivered 5,074 vehicles in April 2022, down almost 50% from the 9,985 delivered in March and decreasing from the 7,102 cars in April 2021.
NIO stated: "Vehicle production and delivery have been impacted by the supply chain volatilities and other constraints caused by a new wave of the COVID-19 outbreaks in certain regions in China. The vehicle production has been recovering gradually."
NIO stock rose 2% in early Monday trading...
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