{"id":108373,"date":"2021-03-02T08:02:02","date_gmt":"2021-03-02T08:02:02","guid":{"rendered":"https:\/\/fin2me.com\/?p=108373"},"modified":"2021-03-02T08:02:02","modified_gmt":"2021-03-02T08:02:02","slug":"chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/","title":{"rendered":"Chinese Tesla rival Nio says global chip shortage will hit its electric car production"},"content":{"rendered":"<ul>\n<li>Chinese electric car start-up Nio said Tuesday a shortage in semiconductors and batteries will cut its production capacity in the second quarter to 7,500 vehicles a month, down from 10,000.<\/li>\n<li>Despite the Lunar New Year holiday last month, Nio delivered more than two times more electric cars in China than fellow start-up Xpeng did.<\/li>\n<li>Shares of New York-listed Nio fell 4% in extended-hours trading after reporting a fourth-quarter earnings loss of 0.93 yuan (14 cents) a share.<\/li>\n<\/ul>\n<p>BEIJING \u2014 Chinese electric car start-up Nio said Tuesday a global chip shortage will force it to manufacture fewer cars in the second quarter.<\/p>\n<p>High demand for electronics amid the coronavirus pandemic and pressure from U.S.-China trade tensions on the highly specialized semiconductor supply chain have contributed to a backlog in chip manufacturing.<\/p>\n<p>Major automakers have had to cut production as a result, with China-based Nio the latest to announce such reductions.<\/p>\n<p>The company had ramped up production capacity in February to 10,000 vehicles a month, an increase from 7,500 previously, founder William Li said in a quarterly earnings call Tuesday. But a shortage in chips and batteries means Nio will need to fall back to the 7,500 level in the second quarter, he said.<\/p>\n<p>Li said he expects manufacturing can increase again in July, for a total annual production capacity of 150,000 vehicles under one work shift \u2014 with the potential to double by early 2022 to 300,000 units a year under two shifts.<\/p>\n<p>Tesla said late last year that annual production capacity at its Shanghai factory had reached 250,000 units.<\/p>\n<h2>Nio predicts strong deliveries<\/h2>\n<p>Despite competition from Tesla, Nio remained ahead of its start-up rivals in terms of vehicle sales.<\/p>\n<p>The company delivered 7,225 vehicles in January and 5,578 in February amid the week-long Lunar New Year holiday. With a forecast of 20,000 to 25,000 deliveries in the first quarter, Nio anticipates deliveries will rise to at least 7,197 cars in March.<\/p>\n<p>In contrast, Xpeng said Tuesday it delivered 2,223 electric cars last month, while Li Auto expects it will deliver fewer than 4,000 cars a month in the first quarter.<\/p>\n<p>Nio founder Li said that pre-orders for the et7 sedan revealed in January have exceeded that of the company&#x27;s other models, but declined to share specific figures. The et7 is Nio&#x27;s first non-SUV consumer car and is set to begin deliveries next year.<\/p>\n<p>Li added the company remained on track with plans to enter Europe later this year.<\/p>\n<p>Shares of New York-listed Nio fell 4% in extended-hours trading after reporting a fourth-quarter earnings loss of 0.93 yuan (14 cents) a share. That&#x27;s greater than the 0.39 yuan loss per share predicted by analysts, according to FactSet.<\/p>\n<p>The company attributed a nearly 33% quarterly increase in net losses \u2014 to 1.39 billion yuan ($212.8 million) in the last three months of 2020 \u2014 primarily to the depreciation in the U.S. dollar.<\/p>\n<p>Nio shares soared more than 1,000% last year after the struggling start-up received a roughly $1 billion capital injection from state-backed investors, and traders piled into the stock alongside a surge in Tesla&#x27;s shares.<\/p>\n<p>Looking ahead, Nio expects total revenue of 7.38 billion yuan to 7.56 billion yuan in the first quarter, up from 6.64 billion yuan in the fourth quarter.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/03\/02\/chinese-tesla-rival-nio-chip-shortage-will-hit-electric-car-production.html\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chinese electric car start-up Nio said Tuesday a shortage in semiconductors and batteries will cut its production capacity in the second quarter to 7,500 vehicles [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":108372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chinese Tesla rival Nio says global chip shortage will hit its electric car production - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese Tesla rival Nio says global chip shortage will hit its electric car production - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Chinese electric car start-up Nio said Tuesday a shortage in semiconductors and batteries will cut its production capacity in the second quarter to 7,500 vehicles [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-02T08:02:02+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/03\/cfntalkfoto106847590-1614669606584-gettyimages-1231464650-CHINA_NIO.jpeg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/\",\"url\":\"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/\",\"name\":\"Chinese Tesla rival Nio says global chip shortage will hit its electric car production - Fin2me\",\"isPartOf\":{\"@id\":\"https:\/\/fin2me.com\/#website\"},\"datePublished\":\"2021-03-02T08:02:02+00:00\",\"dateModified\":\"2021-03-02T08:02:02+00:00\",\"author\":{\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/fin2me.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/fin2me.com\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Chinese Tesla rival Nio says global chip shortage will hit its electric car production\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/fin2me.com\/#website\",\"url\":\"https:\/\/fin2me.com\/\",\"name\":\"Fin2me\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/fin2me.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"Mark\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/fin2me.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g\",\"caption\":\"Mark\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chinese Tesla rival Nio says global chip shortage will hit its electric car production - Fin2me","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/","og_locale":"en_US","og_type":"article","og_title":"Chinese Tesla rival Nio says global chip shortage will hit its electric car production - Fin2me","og_description":"Chinese electric car start-up Nio said Tuesday a shortage in semiconductors and batteries will cut its production capacity in the second quarter to 7,500 vehicles [...]","og_url":"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/","og_site_name":"Fin2me","article_published_time":"2021-03-02T08:02:02+00:00","author":"Mark","twitter_card":"summary_large_image","twitter_image":"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/03\/cfntalkfoto106847590-1614669606584-gettyimages-1231464650-CHINA_NIO.jpeg","twitter_misc":{"Written by":"Mark","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/","url":"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/","name":"Chinese Tesla rival Nio says global chip shortage will hit its electric car production - Fin2me","isPartOf":{"@id":"https:\/\/fin2me.com\/#website"},"datePublished":"2021-03-02T08:02:02+00:00","dateModified":"2021-03-02T08:02:02+00:00","author":{"@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fin2me.com\/business\/chinese-tesla-rival-nio-says-global-chip-shortage-will-hit-its-electric-car-production\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fin2me.com\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/fin2me.com\/category\/business\/"},{"@type":"ListItem","position":3,"name":"Chinese Tesla rival Nio says global chip shortage will hit its electric car production"}]},{"@type":"WebSite","@id":"https:\/\/fin2me.com\/#website","url":"https:\/\/fin2me.com\/","name":"Fin2me","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fin2me.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/fin2me.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"Mark","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fin2me.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/39b72719fb75a2d3c7d7695026648602?s=96&d=mm&r=g","caption":"Mark"}}]}},"_links":{"self":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/108373"}],"collection":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/comments?post=108373"}],"version-history":[{"count":0,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/posts\/108373\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media\/108372"}],"wp:attachment":[{"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/media?parent=108373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/categories?post=108373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fin2me.com\/wp-json\/wp\/v2\/tags?post=108373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}