Published in Transportation

Nio slashes delivery forecast

by on01 September 2021

Blames semiconductor supply shortage 

Chinese electric vehicle maker Nio slashed its delivery forecast for the third quarter this year due to uncertain and volatile semiconductor supplies.

Nio cut its delivery forecast for the third quarter to around 22,500 to 23,500 vehicles from a previous 23,000-25,000 vehicles. It delivered 5,880 electric sports-utility vehicles last month, up 48 percent from a year earlier.

The reason given for the sudden drop is due to Nio not having enough electronic components to install in its high tech cars.  

A global chip shortage, which has led to automakers curtailing production, was unlikely to resolve itself soon as the pandemic rages on in many parts of the world, China's top auto industry body said last month.

Nio is a company which is popular with small shareholders in the US who insist that it will one day be as valuable as Tesla. Although its share price is fairly volatile.


Last modified on 01 September 2021
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