Chinese EV maker Nio resumes production after COVID shutdown

Chinese

Chinese electric vehicle maker Nio has resumed production at its two factories in the eastern city of Hefei after COVID-19 curbs disrupted operations and delayed deliveries.

“Production is resumed at the moment,” a company representative said on Thursday, declining to specify whether it was a full or partial resumption.

China is battling a rising number of COVID cases in several big cities with lockdowns and stringent curbs that have disrupted travel and fuelled worker discontent at major Apple supplier Foxconn.

Nio said on Wednesday it had suspended production because of COVID curbs, leading to delays in deliveries when sales are booming, triggering a steep drop in its shares.

Hefei’s latest outbreak began in early October, prompting the authorities to put parts of the city under lockdown at various times, including the district where Nio’s plants are located.

Nio sold 10,059 cars last month, nearly three times its sales from October 2021, after introducing new models such as ET5. For the first 10 months the year, its sales grew 32 percent.

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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.