SG brief: Nio

The NIO EP9 (left) and NIO ES8 (right) models on display at SGX Centre in mid-May 2022 as electric vehicle (EV) maker's secondary listing on SGX began trading. Credit: SGXThe NIO EP9 (left) and NIO ES8 (right) models on display at SGX Centre in mid-May 2022 as electric vehicle (EV) maker's secondary listing on SGX began trading. Credit: SGX

Smart electric vehicle (EV) maker NIO has delivered 7,024 vehicles in May, brining the total year-to-date to 37,866, up 11.8 percent from the year-earlier period, according to a filing to SGX Wednesday.

“In May 2022, the company’s vehicle production had been gradually recovering from the impact of Covid-19 outbreaks in certain regions in China while vehicle deliveries were still constrained to a certain extent by the corresponding preventive measures,” the car maker said in the statement.

“NIO plans to further ramp up the production capacity to a higher level by working closely with supply chain partners and to accelerate the delivery recovery starting from June, in light of the recent supportive developments in the Covid-19 situation and the strong order inflow,” the company said.