Technology
Chinese EV maker Nio’s deliveries drop 65% as supply chain issues, manufacturing changes bite
A Nio ES6 vehicle is on display during the 18th Guangzhou International Automobile Exhibition on November 20, 2020 in Guangzhou China.
Visual China Group | Getty Images
GUANGZHOU, China — 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 fell 4% in pre-market trade 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.”
