Shares of Chinese language electric automobile (EV) maker Nio (NYSE: NIO) bear been procuring and selling higher on Monday after the corporate talked about that it successfully delivered 7,931 autos in July no matter shortages of key aspects.
As of two: 48 p.m. EDT, Nio’s American depositary shares bear been up about 3.2% from Friday’s closing label.
Nio’s July deliveries entire used to be extra than double its twelve months-ago result. However it absolutely used to be down a runt of from June, when it managed to ship factual over 8,000 autos for the foremost time.
Recordsdata source: Nio. Chart by creator. The chart displays monthly deliveries for Nio’s three items since manufacturing of the ES8 began in June 2018.
Love most automakers across the enviornment, Nio has needed to take care of manufacturing constraints amid an ongoing world shortage of automotive semiconductors. Nio reportedly faced an additional constraint in July: a shortage of peril absorbers, a result of flooding in Germany that affected a key dealer’s factory.
Deliveries of Nio’s flagship ES8 rose to 1,702 in July, its absolute most life like entire since December 2020. Characterize source: Nio.
Nio’s July deliveries entire lagged these of key rivals Xpeng (NYSE: XPEV) and Li Auto (NASDAQ: LI), a first for the corporate long viewed as a frontrunner of China’s rising EV alternate. However Nio patrons looked unconcerned, bidding the corporate’s U.S.-listed shares higher on Monday.
Auto patrons can assign aside a question to to listen to heaps extra in regards to the position of Nio’s offer lines next week: The corporate will file its second-quarter earnings outcomes and serve a conference demand patrons next Wednesday, Aug. 11, after the U.S. markets cease.
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John Rosevear has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends NIO Inc. The Motley Fool has a disclosure policy.”>