China

Nio to temporarily suspend production due to chip shortage

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A logo of the electric vehicle maker NIO is seen at its store in Beijing, China August 20, 2020. REUTERS/Tingshu Wang

March 26 (Reuters) - Chinese electric vehicle (EV) maker Nio Inc (NIO.N) said on Friday it would halt production for five working days at its Hefei plant, due to a shortage in semiconductor chips.

Nio said it planned to suspend production from Monday. It also cut its first quarter delivery forecast to around 19,500 vehicles, compared to the 20,000 to 20,500 vehicles it had previously expected.

Reporting by Sarah Morland in Gdansk; Editing by Toby Chopra

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