NIO may fail to meet second-quarter output goal in its competition with Tesla as global shortage of chips hits home

NIO, one of three US-listed Chinese electric car makers that compete with Tesla, said its breakneck growth pace may be held back, as the global shortage of computer chips that have hobbled the global automotive industry hits home. The Beijing-based carmaker may lack the semiconductor stockpile to meet its target of assembling 7,500 electric cars in the second quarter, NIO’s founder and chief executive William Li said during a press ceremony in the Anhui provincial capital of Hefei, where the carmaker’s 100,000th unit rolled off the assembly line.…

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