The global push toward a carbon-neutral environment will drive strong tailwinds in the electric vehicle space. China is currently the leader of the sector, but the U.S. wants to pass China. That would create opportunities in companies like Tesla Inc (NASDAQ:TSLA).
Global automotive players have also been dealing with a semiconductor shortage which has impacted their business.
Nio delivered 6,711 vehicles in May, a 95.3% year-on-year. However, that was a 5% decrease from April. In May, the Company s vehicle delivery was adversely impacted for several days due to the volatility of semiconductor supply and certain logistical adjustments, Nio said in a statement. Based on the current production and delivery plan, the Company will be able to accelerate the delivery in June to make up for the delays from May, the statement said, adding that it reiterates its delivery guidance of 21,000 to 22,000 vehicles in the second quarter of the year.