Chinese  EV maker Nio Inc cut its delivery forecast for Q3 this year due to uncertain semiconductor supplies, according to a report released by Reuters on Wednesday.

  • Nio reduced its delivery forecast for Q3 to around 22,500 to 23,500 vehicles from 23,000-25,000 vehicles. The EV maker delivered 5,880 electric sports-utility vehicles last month, up 48% from the prior year.  
  • Li Auto Inc, which sells an expanded range of electric vehicles, sold 9,433 vehicles last month, up 248% from a year earlier. It targets 10,000 units monthly sales in September.
  • Xpeng Inc sold 7,214 cars in August, up 172% year-on-year. Its chief executive He Xiaopeng stated that it projects monthly deliveries to reach 15,000 units in the final quarter this year.
  • A lasting global chip shortage has caught major automakers including Ford Motor, Honda Motor, General Motors, and Volkswagen off guard, curtailing production levels.

The shortage was impossible to resolve as the pandemic persists in most parts of the world.  US-listed shares of Nio declined 4.3% at $37.63 in pre-market trading, while Xpeng dropped more than 2%. NIO down -0.051%, XPEV down -1.21% Pre-market trading