NIO‘s CEO William Li told reporters that its biggest challenge is making sure its supply chains are stable.
Like many automakers in China, the company is still recovering from COVID-19 shutdowns in Shanghai and other locations around the country.
In April, COVID controls forced NIO to shut down production for a few days as they could not get parts from suppliers. However, the company has since solved that problem and is still working to grow its part supply.
The company delivered 10,000 vehicles in March but only delivered 5,000 cars in April due to COVID restrictions.
Even with the 50 per cent decrease in vehicle deliveries, Li is not worried about demand. According to the China Passenger Car Association, electric vehicle sales are up 78.4 per cent year over year.
NIO is confident in moving forward and completed the third listing of its stock on the Singapore Stock Exchange. The company also has a secondary listing on the Hong Kong Stock Exchange. Their first and primary listing venue is still the New York Stock Exchange.
In his interview with CNBC, Li also confirmed that NIO plans to export vehicles to Southeast Asia. He also confirmed that NIO would open a research and development center in Singapore for artificial intelligence and autonomous driving. Li did not confirm any timings with these announcements.
