NIO’s car production gradually recovers

Shanghai (Gasgoo)- NIO's supply chain has somewhat recovered and the startup is gradually resuming production at its car plant in Hefei, according to a local media channel, quoting a NIO insider as saying.

The following production of NIO's vehicles will rest upon the recovery status of the company's supply chain, the insider added.

NIO last week announced on its mobile app that it had suspended vehicle production as the operations at its suppliers in such places as Jilin, Shanghai, and Jiangsu were disrupted by the pandemic reason.

Only one day after the statement was released, NIO announced it would increase prices of some vehicle models on May 10 due to the continuous hike in raw materials prices globally. The price adjustment plan came after William Bin Li, NIO's Chairman and CEO, said at the latest quarterly earnings call that the company had no such plans.

In the first quarter of 2022, NIO delivered 25,768 vehicles in total, representing a 28.5% year-over-year growth and gaining growth for the eighth consecutive quarter.

NIO said its new vehicle deliveries reached 9,985 units in March 2022, jumping 37.6% year on year. However, it only ranked fifth among Chinese NEV startups by Mar. deliveries, following XPeng, HOZON Auto, Li Auto, and Leapmotor.