NIO Inc. (NYSE:NIO) shares are trading lower after the company cut its delivery outlook from 23,000-25,000 vehicles to 22,500-23,500 vehicles amid continued uncertainty and volatility of semiconductor supply.
NIO delivered 5,880 vehicles in August 2021, representing a 48.3% year-over-year growth.
NIO Inc operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles.
NIO's stock was trading about 4.3% lower at $37.62 per share on Wednesday at the time of publication. The stock has a 52-week high of $66.99 and a 52-week low of $15.61.