In December 2022, the Company has been facing challenges in deliveries and productions, together with certain supply chain constraints, caused by the outbreak of the Omicron coronavirus variant in major cities in China. While our teams have strived to maintain continuous operations on all fronts, we were not able to reach our full capacities, particularly when there have been disruptions on delivery and registration procedures involving users.
Nio stock is down over 70% year-to-date (YTD), like many EV makers (and essentially all high-growth companies), but the company is still expanding its market.
The company adds it now expects deliveries to be between 38,500 to 39,500 in the fourth quarter, down from the previous guidance of 43,000 to 48,000.
If this is the case, Nio will still see around a 50% increase in EV deliveries from Q4 2021’s total of 25,034.
In addition, Nio has several highly anticipated EVs it expects will help drive future demand, including its flagship EC7 coupe SUV and ES8 refresh unveiled during Nio day 2022.
New reports are indicating some major cities in China are ending COVID-19 restrictions, signaling the country may be easing its “Zero Covid” policies. Either way, Nio continues growing, and with several big releases coming up, the company expects to see its delivery total continue rising.
https://electrek.co/2022/12/27/nio-nio-lowers-q4-2022-delivery-expectations/
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