Shares of Chinese electric vehicle startups Nio, Xpeng and Li Auto jumped in pre-market trade in the U.S. Monday.
Nio said that the production of its ET7 and EC6 vehicles in July was"constrained" by the supply of casting parts.
The company said it"has been working closely with supply chain partners and expects to accelerate vehicle production in the following months of the third quarter of 2022." Xpeng and Li Auto did not mention any supply chain disruptions. Xpeng said it plans to begin accepting reservations for its new flagshipLi Auto said that the 200,000th Li ONE rolled off the production line at its Changzhou factory on Monday, marking a milestone for the company.
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