Nio lowers Q4 2022 delivery outlook
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Wong Pei Ting
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CHINESE electric vehicle maker Nio, which is listed on the mainboard of the Singapore Exchange, on Tuesday (Dec 27) lowered its fourth-quarter delivery outlook to 38,500 to 39,500 vehicles, from the previous projection of 43,000 to 48,000.
In a bourse filing, the company said this is due to supply chain constraints and delivery and production difficulties in the month of December, as major cities in China faced a Covid-19 outbreak.
“While our teams have strived to maintain continuous operations on all fronts, we were not able to reach our full capacities, particularly when there have been disruptions on delivery and registration procedures involving users,” Nio said.
The announcement came a few days after the company launched the EC7, a smart electric flagship coupe sport utility vehicle (SUV), and ES8, its new smart electric flagship SUV.
Despite the adjusted outlook, Nio said the two models are expected to begin delivery in May and June 2023, respectively.
Singapore-listed shares of Nio closed flat at US$11.33 on Tuesday.
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