javascript hit counter
Business, Financial News, U.S and International Breaking News

Nio and Xpeng deliveries fall in August as chip scarcity hits China’s electrical carmakers

GUANGZHOU, China — Nio and Xpeng deliveries dropped in August because the chip scarcity and provide chain constraints hit the Chinese language electrical car makers.

Li Auto was the one firm out of the three to register month-on-month progress.

Nio delivered 5,880 automobiles in August, down from 7,931 vehicles in July. The corporate additionally minimize its third-quarter supply forecast on Wednesday from between 23,000 to 25,000 automobiles to between 22,500 to 23,500 models. Nio blamed the “uncertainty and volatility of semiconductor provide” as the worldwide chip scarcity continues.

Nio stated, nevertheless, new orders reached an all-time excessive in August. The corporate’s shares closed 0.59% decrease within the U.S. on Wednesday.

Xpeng stated it delivered 7,214 automobiles in August, down from 8,040 in July. Xpeng’s Hong Kong-listed shares fell 5% in Thursday commerce.

In the course of the month, the corporate started to transition manufacturing for its G3 sports activities utility car to the G3i, an up to date model of the automobile, at its manufacturing facility in Zhaoqing, south China.

“In consequence, some deliberate deliveries of the G3 have been affected in August. The Firm expects to start out deliveries of the G3i to start out in September,” Xpeng stated.

In an earnings name final month, Xpeng CEO He Xiaopeng stated that offer chain challenges just like the semiconductor scarcity stay the “largest manufacturing hurdle” for the corporate.

The CEO additionally stated he expects month-to-month supply quantity might attain 15,000 within the fourth quarter, which might be greater than double August’s quantity.

In the meantime, Li Auto stated in August it delivered 9,433 models of its Li ONE automobile, the one mannequin it has available on the market. That is up 9.8% from July.

The Hong Kong-listed shares of Li Auto have been down 2% in afternoon commerce on Thursday.

As of Aug. 31, Nio had delivered 55,767 vehicles, Xpeng had delivered 45,992 automobiles, and Li Auto had delivered 48,176 models.

The worldwide chip scarcity continues to hit automakers. Tesla CEO Elon Musk stated that the corporate can be delaying deliveries of its new Roadster till 2023.


Comments are closed.