Chinese electric vehicle maker Nio said on Thursday it has resumed production at its two factories in the eastern city of Hefei, after COVID-19 curbs disrupted operations and delayed deliveries.
because of COVID curbs, leading to delays in deliveries when sales are booming, triggering a steep drop in its shares.
Hefei's latest outbreak begun in early October, prompting the authorities to put parts of the city under lockdown at various times, including the district where Nio's plants are located. Nio sold 10,059 cars last month, nearly three times its sales from October 2021, after introducing new models such as ET5. For the first 10 months, its sales grew 32%.
Reporting by Cui Zhuzhu, Zhang Yan and Brenda Goh in Shanghai and Beijing newsroom; Editing by Tom Hogue and William Mallard
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