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Shares of Chinese electric vehicle maker, Nio Inc. (NYSE:NIO) are down 1.08% in mid-day trading on Wednesday after the company released their October delivery update.
According to Nio, the company delivered 10,059 vehicles in October, up 174.3% compared to this same time last year. The deliveries consisted of 5,979 premium smart electric SUVs including 2,814 ES7s, and 4,080 premium smart electric sedans including 3,050 ET7s and 1,030 ET5s.
Management claims that vehicle production and deliveries were constrained by operational challenges as well as supply chain volatilities due to the COVID-19 situations in certain regions in China.
In October, NIO unveiled ET7, EL7 and ET5 for the European markets. These models are gradually made available for order in Norway, Germany, the Netherlands, Denmark and Sweden through NIO Subscription, leasing programs, and direct sales to users.
