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



Arjun Kharpal | CNBC

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.”

To read the full article, please click here.