Nio Suspends Production At Two Plants As COVID Cases Rise In China | Carscoops carscoops
The company apologized for the delays in a statement that also disclosed its October delivery figures. It said that it had delivered 10,059 vehicles in October, down 7.5 percent from September, when it delivered 10,878 vehicles.between January and September, according to the China Passenger Car Association.
The timing of this shut down may be particularly disruptive for Nio, as the market for electric vehicles in China cools. Although sales of EVs continue to rise, they aren’t rising as quickly as expected, and the unusual measure of lowering prices for two of its top-selling vehicles and attempting to lower costs in the market. Analysts suggest that the market may be building towards pricing wars.
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