While NIO has cut thousands of jobs and started to scale back marketing expenditures, its finances remain strained. File photo: SCMP / Roy Issa
Chinese electric-car maker NIO’s shares soar as loss shrinks, though cash concerns linger
- NIO reported an adjusted net third-quarter loss of US$342.9 million, smaller than expected
- Its finances remain strained, with the government reducing subsidies and tougher competition with Tesla
While NIO has cut thousands of jobs and started to scale back marketing expenditures, its finances remain strained. File photo: SCMP / Roy Issa
