After weeks of strict lockdown measures, China’s electric vehicle sector is returning to business-as-usual. The latest figures reveal significant sales growth, albeit lower than might have been expected were productivity not limited by COVID-19 and supply chain problems.
Firms from the EV, entertainment, and at-home fitness sectors post quarterly results this week. While issues of inflation and supply chain issues affect the economy as a whole, Rivian, Li Auto, Disney, and Peloton’s fortunes are highly divergent.
Several Chinese EV firms, as well as American sector leader Tesla, have made impressive numbers of vehicle deliveries over 2022’s first quarter. These accomplishments come despite continuing production and supply chain issues facing the global economy.
Chinese electric carmaker Nio’s earnings release revealed that the company had lower losses and higher revenues than expected in the second quarter of 2021. Sales of electric vehicles were within the predicted range despite the global chip shortage.
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