Nio shakes off chip shortage with more than 8,000 deliveries in June
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BEIJING — Chinese electric car start-up Nio said Thursday it delivered more than 8,000 cars in one month for the first time.
The company delivered 8,083 vehicles in June, bringing the second-quarter total to 21,896 cars, according to a release. That quarterly figure came in on the high end of Nio's forecast for deliveries of between 21,000 and 22,000 vehicles in the three months ended June.
Nio's U.S.-listed shares are up 9% so far this year. The company has typically delivered more electric cars a month than two other U.S.-listed electric car start-ups, Xpeng and Li Auto. Their shares are up about 3.7% and 21%, respectively, so far this year.VIDEO5:3205:32Auto analyst on how to play the growing electric vehicle spaceThe Exchange
The strong second-quarter performance came despite a decline in monthly deliveries in May from April — which the company had attributed to the global semiconductor shortage.
Nio's June figures also brought deliveries for the first half of the year to more than 41,900, close to surpassing the total for all of last year of 43,728 cars.
However, the start-up's deliveries still fall far short of industry giant Tesla, which delivered 184,800 vehicles worldwide in the first quarter alone.
Tesla's shares are down more than 3.5% for the year so far.
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