Nio electric vehicles sales took a hit as it scrambled to handle battery recall

TechCrunch | 7/31/2019 | Staff
magiccastlemagiccastle (Posted by) Level 4
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Nio delivered just 837 electric vehicles in July, a nearly 38% drop from the previous month that was largely caused by a voluntary recall of its high-performance ES8 SUV.

The Chines automotive startup issued a voluntary recall in June of nearly 5,000 ES8 SUVs after a series of battery fires in China and a subsequent investigation revealed a vulnerability in the design of the battery pack that could cause a short circuit. The recall affected a quarter of the ES8 vehicles sold since they went on sale in June 2018.

Nio - Recall - ES8s - Battery - Manufacturing

Nio was able to complete its recall for the 4,803 ES8s by prioritizing battery manufacturing capacity for this effort, which significantly affected our production and delivery results, NIO founder, chairman and CEO William Li said Monday in a statement.

“On the positive side, we completed the ES8 battery recall in approximately half the time compared to our original timeline,” Li said, adding that the customer confidence is returning. “Looking ahead, with battery capacity allocation back to normal, we will accelerate deliveries and make up for the delivery loss impacted by the recall.”

Nio - August - Month - Target - Vehicles

Nio expects August to be a “much stronger month” with a target to deliver between 2,000 and 2,500 vehicles, according to Li. That’s...
(Excerpt) Read more at: TechCrunch
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