Nio shuts down production amid global chip shortage

Chinese electric vehicle (EV) maker Nio has announced it is shutting down production at its factory in Hefei due to the ongoing semiconductor shortage.

The automaker said the shut down will begin March 29, 2021 and last for a full five working days, ending on April 2, 2021.

Nio had previously targeted delivering between 20,000 and 20,500 EVs in the first quarter. That has now been revised downward to approximately 19,500 vehicles. The company delivered 17,353 vehicles in Q4 2020.

Despite the slightly lower number, if Nio meets their target they will smash their previous Q1 2020 record by more than 400%.

Nio isn’t the only automaker facing shortages of semiconductors. Both Ford and General Motors have also been impacted, forcing the shutdown of some of their production lines and cutting production by as much as 20%.

Tesla has also been impacted, but only suffered a two-day shutdown. That was the result of a factory in Texas being forced to close due to power outages after the massive winter storm that hit the Lone Star State in February.

Source: South China Morning Post

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