NIO Electric Vehicle Production Hit by Semiconductor Shortage
Chinese electric-vehicle maker NIO (NYSE: NIO) said today it will halt production at its Hefei factory for five days due to the global semiconductor shortage. Production will be suspended beginning March 29 for five working days.
The company said the shutdown will reduce first-quarter deliveries to approximately 19,500 vehicles, compared to the prior estimate of 20,000 to 20,500. By comparison, the company delivered 17,353 vehicles in the fourth quarter of 2020.
Source Fool.com
