(CNBC) Chinese EV maker Xpeng delivered 12,922 electric vehicles in January, up 115% from the prior year but a drop of at least 19% from December as semiconductor shortages bite.
Another EV maker NIO also faced a global chip shortage issue, with its deliveries of 9,652 in January below December’s 10,489 units. The sales were still 33.6% above the prior year.
The slowdowns in EV deliveries by Xpeng and Nio highlight the impacts of global chip shortages. In July, Xpeng’s CEO He Xiaopeng cited semiconductor challenges as the biggest headwind for the company.
Xpeng said that it is conducting a technology upgrade at its Zhaoqing, south China factory, as it takes advantage of the Lunar New Year holiday slowdown and clear order backlogs of last year.
The chip issues were also highlighted by US EV maker Tesla, which said it will not produce new models this year due to component shortages.
XPEV: NYSE is up +1.17%, NIO: NYSE is down -2.45%.
