In December Nio launched its second production model, the ES6, a five-seater electric SUV. Photo: Handout
In December Nio launched its second production model, the ES6, a five-seater electric SUV. Photo: Handout

Chinese electric vehicle maker Nio scraps Shanghai factory plan after losses double to US$1.4 billion

  • Nio sold just over 10,000 units in the past year, well below the market consensus of 100,000 needed to achieve economies of scale

In December Nio launched its second production model, the ES6, a five-seater electric SUV. Photo: Handout
In December Nio launched its second production model, the ES6, a five-seater electric SUV. Photo: Handout
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