Autos

Chinese electric automaker Nio says chip shortage will slow car deliveries

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Nio plans to begin deliveries of its ET7 electric sedan in 2022.

Evelyn Cheng | CNBC

BEIJING — Chinese electric car start-up Nio said Friday it expects a global chip shortage will drag down vehicle deliveries in the second quarter.

A fire in March at a Japanese chip factory owned by Renesas has exacerbated an existing shortfall in semiconductors that has forced major automakers to cut production.

Without naming the factory, Nio’s Chairman William Li said during an earnings conference call he expects the negative impact of the fire to hit the auto supply chain in mid-May. The industry generally expects the shortage will reach a turning point in the third quarter, Li said.

For now, Nio had to…



Source cnbc.com

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