HomeBUSINESSNio eliminated the chip shortage with more than 8,000 deliveries in June

Nio eliminated the chip shortage with more than 8,000 deliveries in June

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Nio plans to begin delivering the ET7 electric sedan in 2022.

Evelyn Cheng | Acesparks

BEIJING – China’s electric car launch Nio said on Thursday it delivered more than 8,000 cars for the first time in a month.

The company delivered 8,083 vehicles in June, up from 21,896 in the second quarter. This quarterly figure appeared at the top of Nio’s forecast for shipments of 21,000 to 22,000 vehicles in the three months ended June.

U.S.-listed shares of Nio have risen 9 percent so far this year. The company typically supplied more electric vehicles than two of the U.S.-listed companies, Xpeng and Li Auto. Their shares have risen 3.7% and 21%, respectively, this year.

Strong performance in the second quarter came despite a decline in supply in May from April – the company was linked to a global semiconductor shortage.

Nio’s June figures also exceeded 41,900 deliveries in the first half, up from 43,728 last year.

However, initial product deliveries are still far below those of industry giant Tesla, which delivered 184,800 vehicles worldwide in the first quarter.

Shares of Tesla have fallen 3.5 percent so far this year.

Read more about electric vehicles on Acesparks Pro

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