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May 2022 Nio sales limited by Covid; XPeng and Li Auto gain momentum

Nio began deliveries of its new ET7 high-end electric sedan on Monday, March 28, 2022.

Nio

Chinese electric vehicle maker 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 production and its ability to deliver vehicles to customers.

Nio said in a statement that its production was “gradually recovering” in May after pandemic-related disruptions, but its ability to deliver vehicles was “still limited to a certain extent” by lockdowns and other measures put in place to limit the spread of new Covid variants in parts of China. .

Nio is working with its suppliers to increase production in June, he said. Shipments are also expected to pick up as Covid-related restrictions have begun to loosen.

New orders remain strong, the company said, although it did not provide specific figures.

Not all new Chinese EV makers were hit as hard in May as Nio. Competitor Xpeng said it was able to deliver 10,125 vehicles in a month, up 78% from a year ago, as it resumed two-shift production at its plant in mid-May.

XPeng is based in southern China, near the city of Guangzhou, an area that has weathered the recent Covid outbreaks better than the region around Hefei, where Nio is based, a few hundred miles to the north.

Another competitor, Li Auto, said it was able to deliver about 11,500 vehicles in May, up more than 160% from a year ago, despite disruptions to suppliers due to the pandemic in the Yangtze River region to its west. Li Auto is based in Changzhou, near Shanghai, on the coast of China.


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