Nio shakes off chip shortage with more than 8,000 deliveries in June

Nio strategies to get started deliveries of its ET7 electrical sedan in 2022.

Evelyn Cheng | CNBC

BEIJING — Chinese electrical motor vehicle start-up Nio mentioned Thursday it delivered much more than 8,000 vehicles in a person month for the initial time.

The corporation shipped 8,083 cars in June, bringing the 2nd-quarter complete to 21,896 cars, according to a launch. That quarterly determine came in on the substantial close of Nio’s forecast for deliveries of concerning 21,000 and 22,000 autos in the 3 months ended June.

Nio’s U.S.-listed shares are up 9% so considerably this 12 months. The organization has ordinarily sent a lot more electrical autos a thirty day period than two other U.S.-listed electric powered vehicle start out-ups, Xpeng and Li Vehicle. Their shares are up about 3.7% and 21%, respectively, so significantly this year.

The sturdy next-quarter performance came even with a decline in month to month deliveries in May possibly from April — which the company had attributed to the world semiconductor shortage.

Nio’s June figures also introduced deliveries for the to start with 50 percent of the calendar year to extra than 41,900, close to surpassing the overall for all of very last 12 months of 43,728 cars.

Having said that, the get started-up’s deliveries however tumble much short of market giant Tesla, which shipped 184,800 motor vehicles around the world in the very first quarter alone.

Tesla’s shares are down much more than 3.5% for the year so considerably.

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