Nio May 2022 sales constrained by Covid; XPeng, Li Auto gain ground

Chinese electric vehicle maker Nio delivered more than 7,000 vehicles in May, up 4.7% from a year ago but well below its current production capacity, as Covid-related disruptions continued to limit the company’s manufacturing and its ability to deliver vehicles to customers.

Nio said in a statement that its manufacturing had been “gradually recovering” in May from pandemic-related disruptions, but that its ability to deliver vehicles was “still constrained to a certain extent” by lockdowns and other measures imposed to limit the spread of new Covid variants in some regions of China.

Nio is working…