Nio Inc (NYSE: NIO) has lowered its fourth-quarter FY2022 guidance citing supply chain constraints.
The company said it has been facing challenges in December in deliveries and productions, together with certain supply chain constraints, caused by the outbreak of the Omicron coronavirus variant in major cities in China.
Nio expects to deliver 38,500 – 39,500 vehicles in Q4, down from the previous outlook of 43,000 – 48,000 vehicles.
Also Read: Nio Day 2022: New EC7 Coupe, Improved ES8 Flagship SUV, 3rd-Gen Power-Swap Station And More
On December 24, 2022, the company launched the EC7, a smart electric flagship coupe SUV, and the ES8, an all-around smart electric flagship SUV, from NIO Technology 2.0 (NT2.0).
Price Action: NIO shares are trading lower by 1.82% at $10.77 in premarket on the last check Tuesday.
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Source: https://finance.yahoo.com/news/nio-lowers-q4-outlook-covid-111305948.html