Customers look on as Nio’s EP9 sports car stands on display inside the company’s showroom at the Shanghai Tower in Shanghai. The electric car maker reported a larger-than-expected loss of 3.3 billion yuan in the second quarter. Photo: Bloomberg

China’s Tesla challenger Nio to cut more jobs, raise cash as losses mount

  • The moves show how China’s NEV makers are bracing for a downturn after the government scaled back its subsidy programme
Topic |   Electric cars

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Customers look on as Nio’s EP9 sports car stands on display inside the company’s showroom at the Shanghai Tower in Shanghai. The electric car maker reported a larger-than-expected loss of 3.3 billion yuan in the second quarter. Photo: Bloomberg
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Sarah Dai

Sarah Dai

Sarah Dai, based in Beijing, covers technology and capital flows in the world of start-ups in Greater China. Previously, she worked as financial correspondent for Caixin Media in Hong Kong for over two years and wrote for China Daily in Beijing and London.