Chinese automaker Nio reports May EV sales constrained by Covid as rivals XPeng and Li Auto gain ground - 02 iunie 2022
Chinese electric vehicle maker Nio (US.NIO) delivered more than 7,000 vehicles in May, up 4.7% from a year ago but well below its current production capacity, as Covid-related disruptions continued to limit the company’s manufacturing and its ability to deliver vehicles to customers. Not all of China’s emerging electric vehicle makers were hit as hard as Nio in May. Rival Xpeng (US.XPEV) said it was able to deliver 10,125 vehicles for the month, up 78% from a year ago, as it resumed two-shift production at its factory in mid-May. XPeng is based in southern China, near the city of Guangzhou — an area that has fared better amid the recent Covid outbreaks than the region around Hefei, where Nio is based, several hundred miles north. Another rival, Li Auto (US.LI), said it was able to deliver about 11,500 vehicles in May, up over 160% from a year ago, despite pandemic-related disruptions at its suppliers in the Yangtze River region to its west. Li Auto is based in Changzhou, near Shanghai, on China’s coast.