Chinese EV maker Nio resumes production after COVID shutdown | Business and Economy

China is battling a rising number of COVID cases with tough curbs that have significantly disrupted businesses.

Chinese electric vehicle maker Nio has resumed production at its two factories in the eastern city of Hefei after COVID-19 curbs disrupted operations and delayed deliveries.

“Production is resumed at the moment,” a company representative said on Thursday, declining to specify whether it was a full or partial resumption.

China is battling a rising number of COVID cases in several big cities with lockdowns and stringent curbs that have disrupted travel and fuelled worker discontent at major Apple supplier Foxconn.

Nio said on Wednesday it had suspended production because of COVID curbs, leading to delays in deliveries when sales are booming, triggering a steep drop in its shares.

Hefei’s latest outbreak began in early October, prompting the authorities to put parts of the city under lockdown at various times, including the district where Nio’s plants are located.

Nio sold 10,059 cars last month, nearly three times its sales from October 2021, after introducing new models such as ET5. For the first 10 months the year, its sales grew 32 percent.