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Chinese EV maker Nio says it’s gradually resuming production after Covid halt

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In February 2020, Nio got a lifeline of financing support led by the government of Hefei city, where the electric car start-up has established its China headquarters.

Qilai Shen | Bloomberg | Getty Images

BEIJING — Chinese electric car company Nio said Thursday it is gradually resuming production at a facility several hours’ drive west of Shanghai, after temporarily halting operations due to the Covid outbreak.

Nio said Saturday it had suspended production after Covid-related restrictions in Changchun, in north China, and Hebei, near Beijing, halted production at suppliers’ factories. The company subsequently said it would raise prices for its SUVs in May due to high raw materials…



Source cnbc.com

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