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World NewsChinese electric carmaker Nio sees deliveries drop in October

Chinese electric carmaker Nio sees deliveries drop in October

A Nio ES6 automobile is on show in the course of the 18th Guangzhou International Automobile Exhibition on November 20, 2020 in Guangzhou China.

Visual China Group | Getty Images

GUANGZHOU, China — Nio’s deliveries of automobiles to prospects in October fell sharply as provide chain points and modifications to its manufacturing traces impacted the Chinese electric automobile maker.

The firm’s New York-listed shares fell 4% in pre-market commerce on Monday.

Nio mentioned it delivered 3,667 autos in October, down greater than 65% from September.

The firm mentioned deliveries have been “significantly impacted by reduction in production volume as a result of the restructuring and upgrades of manufacturing lines and the preparation of new products.”

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