(MarketWatch) NIO stock lost about 10% in premarket on Monday before recovering some losses, leading to declines among electric car makers following warnings of delivery delays.
Nio cited Covid-19 related production suspensions in its warnings of supply deliveries which sparked a market sell-off in the sector.
Xpeng lost more than 8% in premarket, while Li Auto traded down at least 6% in the market rout.
Shares of US EV maker Tesla were not spared either, as they fell 4.8% before the market opened.
The warnings by Nio happen when China has been imposing strict lockdowns in Shanghai and other major areas to curb the spread of Covid-19 cases. Volkswagen and Tesla are other companies that temporarily halted production in China.
NIO is down -4.10%, XPEV is down -2.01%, LI is down -1.78%, TSLA is down -2.10%
