NIO Deliveries in May Hit by Chip Shortage, but Analyst Says "Buy"
Chinese electric vehicle maker NIO (NYSE: NIO) first said it would be impacted by the global semiconductor shortage in late March when it announced a five-day factory closure. The company still managed to hit its original production target range for the first quarter, but the numbers are now being affected.
Today, NIO announced May 2021 deliveries of 6,711 vehicles, a 5.5% drop versus April. The company said in a statement that vehicle deliveries for the month were "adversely impacted for several days due to the volatility of semiconductor supply and certain logistical adjustments."
Source Fool.com
