China-based multinational automobile manufacturer NIO has announced that sales of its electric vehicles (EVs) grew more than 95 per cent year-over-year (y-o-y) to settle at 6,711 units in May 2021.

NIO, electric automobile manufacturer headquartered in the Shanghai, has confirmed that production at its JAC-NIO manufacturing plant has been halted due to shortage of semiconductors.

American electric vehicle maker Tesla Motors is catching up to its rivals NIO and Xpeng in China, where the Model Y electric compact crossover utility vehicle is selling like hot cakes.