GUANGZHOU, China — Chinese electric car company Nio saw deliveries slide in May as the global chip shortage hit its business.
Meanwhile, rival Xpeng Motors saw vehicle deliveries accelerate in May as it managed to weather the same semiconductor shortage.
Xpeng was up around 5.5% in pre-market trade in the U.S. while Nio was 2.8% higher at 5:03 a.m. ET.
Global automotive players have also been dealing with a semiconductor shortage which has impacted their business.
Nio delivered 6,711 vehicles in May, a 95.3% year-on-year. However, that was a 5% decrease from April.
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