Employees make checks at an inspection line during a media tour of Nio Inc.’s production facilities. in Hefei, Anhui Province, China, on Friday, December 4, 2020.
Qilai Shen | Bloomberg | Getty Images
BEIJING – Chinese electric vehicle start-up Nio said on Friday it would close a factory for five days due to global semiconductor shortages.
The production shutdown from March 29 will reduce Nio’s first-quarter deliveries by at least 500 vehicles, the company said.
This places the deliveries expected for the first three months of the year at 19,500, compared to the forecast previously announced from 20,000 to 20,500.
Even with the reduction, Nio is on track to start delivering more cars starting in 2021 than rivals Xpeng and Li Auto.
Global carmakers have announced production shutdowns due to semiconductor shortages. The highly specialized supply chain for chips has suffered the impact of the coronavirus pandemic and trade tensions between China and the U.S. that began under the Trump administration.