CHINESE electric vehicle maker Nio said announced it has suspended production due to Covid restrictions, triggering a steep drop in its shares, reports Reuters.
Local tech news outlet 36Kr reported that Nio had begun to face production challenges in mid-October due to virus prevention measures that eventually led to both of its factories in the central city of Hefei stopping work.
‘The news that production at Nio’s factories has been suspended is true and this will have an impact on production and delivery schedules,’ a company representative told Reuters in response to a query about the report.
