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Chinese EV maker Nio’s deliveries drop 65% as supply chain issues, manufacturing changes bite

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Nio said deliveries were “significantly impacted by reduction in production volume as a result of the restructuring and upgrades of manufacturing lines and the preparation of new products.It comes after Li Auto said October deliveries of its Li ONE sports utility vehicle totaled 7,649, a near 8% month-on-month rise.

Nio’s deliveries of cars to customers in October fell sharply as supply chain issues and changes to its manufacturing lines impacted the Chinese electric vehicle maker.

The company’s New York-listed shares closed 3.6% higher on Monday. Nio said it delivered 3,667 vehicles in October, down more than 65% from September. The company said deliveries were “significantly impacted by reduction in production volume as a result of the restructuring and upgrades of manufacturing lines and the preparation of new products.”

SourceCNBC

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