NIO Shares Plummet on Guidance Miss as Prolonged Chip Shortage Bites

elivery, overtaken by two old foes Xpeng and Li Auto and a fresh one--HOZON Auto’s brand Nezha, which recently signed the strategic partnership with the world’s largest EV battery maker CATL who pledged to join in the D round financing. However, NIO founder and CEO William Bin Li noted in the latest quarterly results that new orders of his company reached a new record in October. “Despite the continued supply chain volatilities, our teams and partners are working closely together to secure the supply and production for the fourth quarter of 2021,” Li added. As to whether the maker managed to shrug off the effects the chip shortage or not, one has to wait for the results in the coming quarters, at the very least, the current quarter.

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