Shares of China-based EV maker NIO Inc. (NIO) increased 3.6% to close at $40.84 on Monday after the company announced delivery results of its smart EVs for October 2021. NIO revealed that it delivered 3,667 vehicles in October, representing a year-over-year decrease of 27.5%. The decrease reflects lower production volume due to the restructuring and degradation of manufacturing lines, along with the groundwork for new products introduction from September 28 to October 15. Global supply chain volatility also acted as a headwind. Despite these challenges, the company’s new order recorded an all-time high in October on the back of rising demand.
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NIO (NYSE:NIO)
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