• Nio falls as Chinese EV maker says chip shortage will dent second-quarter production

    1 month ago - By Business Insider

    This photo taken on January 9, 2021 shows the NIO ET7, the flagship sedan for the Chinese electric car manufacturer, during its launch ceremony in Chengdu, in China's southwest Sichuan province. / China OUT
    / China OUT
    Nio stock fell by nearly 10% Tuesday after the electric car maker said it expects to produce 7,500 units per month in the second quarter.
    Nio said it had been able in January to ramp up production to 10,000 units per month.
    CEO William Li said Nio expects to "elevate the overall supply chain production capacity" starting from July.
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  • Nio falls as Chinese EV maker says chip shortage will dent second-quarter production

    Nio falls as Chinese EV maker says chip shortage will dent second-quarter production

    1 month ago - By Business Insider

    Summary List Placement Nio shares dropped by nearly 10% on Tuesday after the electric vehicle maker said a global chip shortage would reduce the quarterly number of cars it had aimed to produce.
    Nio's projection underscores the tight supply of chips resulting from the COVID-19 pandemic that has affected a range of industries.
    The China-based automaker said it reached production capacity of 10,000 units per month in January by having two shifts in some of its workshops. That marked an increase from 7,500 units.
    However, "in the second quarter we may only be able to secure overall supply...
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  • Volvo Joins The Electric-Car Battle With Its Entry-Level C40 Hatchback

    1 month ago - By Forbes

    Volvo ripped the covers off its entry-level C40 Recharge electric hatchback in Europe today, on the back of announcing an end-date for combustion-engine production.
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  • Volvo to sell only all-electric vehicles by 2030

    1 month ago - By Tech Crunch

    Volvo Cars said it will only make and sell all-electric vehicles by 2030, as part of a broader transformation of the automaker that will include shifting sales online.
    “The key to sustainability is electrification, said Volvo Cars CEO Håkan Samuelsson during a presentation Tuesday. “Together with investments in charging infrastructure that is the right way to go and the course we have chosen at Volvo.”
    The announcement was tied to the launch of the C40 Recharge, a low slung crossover based on the company's CMA vehicle platform. While the C40 is the second vehicle under Volvo's EV-focused...
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  • Europe's CO2 Rules Will Cripple Small Electric Car Sales, Jeopardize Plug-In Revolution, And Boost China

    1 month ago - By Forbes

    Europe's CO2 rules will price small electric cars out of the market, jeopardizing the plug-in revolution, and open up the market to China incursion.
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