Nio eliminates chip shortages with more than 8000 deliveries in June

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Nio plans to start delivering its ET7 electric car in 2022.

Evelyn Cheng | CNBC

Chinese electric car startup Nio said Thursday it had delivered more than 8,000 vehicles in one month for the first time.

The company delivered 8,083 vehicles in June, bringing the second-quarter vehicle total to 21,896, according to a statement. The quarterly number came in the upper end of Nio’s forecast for deliveries of between 21,000 and 22,000 vehicles in the three months ending in June.

US-listed Nio shares are up 9% so far this year. The company typically delivered more electric cars per month than the two other electric car companies listed in the US, Xpeng and Li Auto. Their stakes are up about 3.7% and 21%, respectively, so far this year.

The strong performance in the second quarter came despite a drop in monthly deliveries in May compared to April — which the company attributed to a global shortage of semiconductors.

Nio’s June numbers also drove deliveries in the first half of the year to more than 41,900 vehicles, nearly exceeding last year’s total of 43,728.

However, startup deliveries are still far below that of industry giant Tesla, which delivered 184,800 vehicles worldwide in the first quarter alone.

Tesla shares are down more than 3.5% for the year so far.

Read more about electric cars from CNBC Pro.

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