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Chinese rival Tesla also had to suspend production due to a shortage of chips

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Chinese electric vehicle maker Nio is yet another automaker forced to suspend production due to a global chip shortage.

Leading automakers such as Ford, Honda, GM and Volkswagen were caught off guard by shortages as demand for cars surged during the COVID-19 pandemic, forcing many of them to suspend production.

The shortage of microcircuits is also a result of the demand for consumer electronics, which has increased as a result of the shift to work, education and home entertainment.

Nio, one of Tesla’s main rivals in China’s dominant electric vehicle market, said it would halt production at its Hefei plant for five business days from next week and cut its first-quarter delivery forecast by 1,000 vehicles. Nio currently expects to deliver 19,500 electric vehicles during the quarter.

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