The Chinese electric vehicle maker
is getting hit by the microchip shortage that is roiling the entire automotive industry. The company said Friday it was curtailing production because it just doesn’t have the parts.
NIO is temporarily suspending vehicle production at its JAC-NIO manufacturing plant in Hefei for five working days starting from Monday. JAC is NIO’s contract manufacturing partner.
The parts shortage creates an interesting situation for investors. NIO, and other EV makers, are valued like growth stocks, and the chip