Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Shivani Kumaresan

Nio Says Supply Chain Disruption Is Its Biggest Problem: CNBC

NIO CNBC William Li Supply chain Nio Inc NYSE Artificial Intelligence China Covid-19 Singapore
  • Chinese electric car company Nio Inc (NYSE:NIO) Chief Executive Officer William Li said the biggest challenge right now is ensuring supply chain stability, CNBC reported.
  • The resurgence of COVID-19 cases in China and the subsequent economic restrictions had a huge impact that Nio had to suspend production temporarily.
  • Nio delivered 5,074 vehicles in April, a 49% decline quarter-on-quarter.
  • Li said he expected consumer demand for electric cars to persist even if the Chinese government reduces subsidies for the sector.
  • Nio has made its debut on the Singapore stock exchange, as it laid out plans to open a local research center focused on artificial intelligence and self-driving cars.
  • Price Action: NIO shares are trading higher by 7.20% at $17.86 in premarket on the last check Friday.
  • Photo Via Wikimedia Commons
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
FDA Allows Yogurt Claim To Reduce Diabetes Risk
FDA allows yogurt producers to claim reduced Type 2 diabetes risk despite limited evidence. Consumers advised to critically evaluate labeling claims.
Top News
Top News
"I have a different perspective on all of that": Richie Sambora releases uncut interview footage from Bon Jovi documentary series that sheds new light on the tensions that led to his departure
"I was essential because I spent more time with Jon than even his wife, and was more honest"
MusicRadar
MusicRadar
Tom Brady telling off Jeff Ross was not scripted, Drew Bledsoe confirms
During Brady's roast, the NFL legend interrupted Ross after he made a joke after Robert Kraft.
The Street
The Street
1st woman to command a US spacecraft Eileen Collins 'signs' patch to inspire girls
A patch created to honor Eileen Collins, the first woman to command a U.S. spacecraft, features a geometric pattern representing the glow of her space shuttle lifting off into the night sky.
Space
Space
Kim Kardashian Gets Savagely Booed While Addressing Tom Brady Dating Rumors for the First Time Publicly
Kardashian took part in Brady’s Netflix roast last night.
Marie Claire
Marie Claire
Tony Parker among French stars to carry Olympic torch in Marseille
The first participants in the Olympic torch relay were announced on Monday, two days before the event kicks off in the southern French city of Marseille. Among them are players from the Olympique de Marseille football team, former NBA champion basketball player Tony Parker and French rap artist Soprano.
Radio France Internationale
Radio France Internationale
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play