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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A Nio car showroom is open at the Futian district in Shenzhen. Photo: Roy Issa

After US$5 billion in losses, China’s Tesla challenger Nio fights to survive

  • Shanghai-based Nio is poised to report on Tuesday that it lost around US$4 million a day during the second quarter
Topic |   Electric cars

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A Nio car showroom is open at the Futian district in Shenzhen. Photo: Roy Issa
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