Tesla rival NIO becomes first Chinese EV firm to run out of chips, halts production and lowers output projection

//Tesla rival NIO becomes first Chinese EV firm to run out of chips, halts production and lowers output projection

Tesla rival NIO becomes first Chinese EV firm to run out of chips, halts production and lowers output projection

NIO, China’s leading smart electric vehicle (EV) start-up, has become the first such carmaker to fall victim to a global shortage of automotive chips.The Shanghai-based company said on Friday that the shortage had forced it to temporarily suspend production for five days at its assembly line in Anhui province. Moreover, the company said its sales target for the quarter had also been affected – less than a month after founder and chief executive William Li said during an earnings briefing on…

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By | 2021-03-26T13:18:17+00:00 March 26th, 2021|Business|Comments Off on Tesla rival NIO becomes first Chinese EV firm to run out of chips, halts production and lowers output projection