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Chinese electric carmaker Nio sees deliveries drop in October

On November 20, 2020, a Nio ES6 automobile will be displayed at Guangzhou International Automobile Exhibition.

Visual China Group | Getty Images

GUANGZHOU, China — Nio’sThe Chinese manufacturer of electric vehicles saw its deliveries to customers drop sharply in October due to supply chain problems and modifications to manufacturing lines.

Pre-market trade Monday saw the company’s New York-listed shares fall by 4%

Nio reported that it shipped 3,667 vehicles to October, a drop of more than 65% compared with September.

According to the company, deliveries suffered from a reduction in production volume due to restructuring and upgrading of manufacturing lines as well as the preparation of new product products.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.