Nio, one the main challengers to Tesla, which dominates the electric vehicle (EV) market in China, said it would halt production for five working days at its Hefei plant and cut its first-quarter delivery forecast by as much as 1,000 vehicles.
Stellantis NV and Chinese electric vehicle maker Nio became the latest carmakers to announce new production cuts as a result of a global semiconductor chip shortage.
Stellantis said on Friday it will temporarily halt production at five North American plants next week because of the global microchip shortage: two assembly plants in Canada, one in Mexico and two in the United States. The production halts will start next week through early to mid-April.
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