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Chinese electric car start-up Nio shuts factory for 5 days due to global chip shortage – CNBC

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https://www.cnbc.com/2021/03/26/chinese-ev-start-up-nio-shuts-factory-for-5-days-due-to-chip-shortage.html

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Employees make checks at an inspection line during a media tour of the Nio Inc. production facility in Hefei, Anhui province, China, on Friday, Dec. 4, 2020.

Qilai Shen | Bloomberg | Getty Images

BEIJING — Chinese electric car start-up Nio said Friday it is shutting a factory for five days due to the global shortage in semiconductors.

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The production halt beginning March 29 will reduce Nio’s first-quarter deliveries by at least 500 vehicles, the company said.

That puts expected deliveries for the first three months of the year at 19,500, versus the previously announced forecast of 20,000 to 20,500.

Even with the reduction, Nio is on track for more car deliveries to start 2021 than rivals Xpeng and Li Auto.

Global automakers have announced production halts due to a shortage in semiconductors. The highly specialized supply chain for chips has suffered from the impact of the coronavirus pandemic and trade tensions between China and the U.S. that began under the Trump administration.

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