Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Will Faraday and Geely Team Up in a Possible Replication of Baidu and Foxconn Manufacturing Partnerships?
Chinese Edtech Startup Huohua Siwei Secures $400 Million in Series E Funding Round
Trending in China: Man Fired for Skipping Work to Mourn Father Gets Billion Views
Impressive New York Trading Debut for Chinese E-Cigarette Maker RLX But Challenges Lie Ahead
Self-Driving Tech Startup Uisee Closes $155 Million Funding Round
Trending in China: Gold Mining Rescue Lights Up Weibo
China Evergrande’s NEV Unit Brings Six Investors On Board to Raise $3.4 Billion
Taiwan’s MediaTek Surpasses Qualcomm as China’s Smartphone Chip Supplier of Choice as U.S. Sanctions Bite
Tencent-Backed Esports Startup VSPN Closes $60 Million Funding
Trending in China: Foreign Medical Students Volunteer for Battle Against Virus in Freezing Northeast
Chinese Telcos Look for More Sympathy Under Biden Administration
Gojek, Tokopedia Explore Holding Company Structure as Merger Talks Move Forward
Carmaker BYD to Raise $3.9 Billion Through New Share Sale
Trending in China: Beijing Skating Now On Ice As Covid Restrictions Imposed
Alibaba’s Jack Ma Reemerges After Long Absence
Chinese Mainland Speeds Up Chip Equipment Buying from ASML
Chinese Edtech Startup Erwan Nets Nearly $100 Million in Series D, E Funding Rounds
Matrix Partners China Raises $1.2 Billion for Flagship Venture Fund
Tesla Denies Final Model Y Pricing Represents Big Cut
Cold-Chain Logistics Startup Xianshenghuo Bags $93 Million in New Funding
Nio Deliveries Nosedive in February Amid Coronavirus Spread

By Ding Yi / Mar 11, 2020 12:46 PM / Business & Tech

Photo: VCG

Photo: VCG

Chinese electric-vehicle company Nio has reported gloomy delivery figures for February, in line with a dramatic nationwide market contraction that came as the deadly Covid-19 epidemic spread across the country.

Last month, Nio shifted just 707 cars — including 671 ES6s and 36 ES8s — representing a year-on-year decline of 12.8%, the automaker announced Tuesday. The figure is also less than half of January’s total of 1,598 vehicles.

Nio attributed the sales drop to the new coronavirus outbreak that has caused factories to close, supply chains to suffer disruptions, and consumers to stay at home across large parts of China.

The company’s founder, chairman, and CEO, William Li, said in a statement that Nio has since leveraged several online sales channels including its own app to achieve “some encouraging order numbers,” but did not give further details.

On Monday, the China Passenger Car Association (CPCA) said China’s new energy car sales plummeted by 77.7% year-on-year to 11,000 units in February thanks to the public health crisis and the earlier-than-usual Lunar New Year holiday.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Nio Strikes Government Deal with New Headquarters and New Funding Plan


Share this article
Open WeChat and scan the QR code