China’s Nio Falls Behind on Thousands of Electric Cars as Covid Zero Hits Plants
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Chinese electric-car maker Nio Inc. has fallen behind on both producing and delivering thousands of vehicles over the past month.
Chinese electric-car maker Nio Inc. has fallen behind on both producing and delivering thousands of vehicles over the past month as Covid restrictions disrupted output at its two factories, according to people familiar with the matter. Production at the plants in Hefei, Anhui province, have also been impacted by delays in the supply of some components, the people said, asking not to be identified because the details are private. US-listed Nio tried to operate so-called closed-loop systems at the factories -- which require workers to stay on site, allowing production to continue even if a lockdown is in place -- but those efforts failed due to a la...