The share price of Chinese EV startup NIO fell by 5.8% to $1.46 on October 16, which marks the largest decline in the past six days.
NIO shares surged as much as 12% on October 8 after the Chinese electric vehicle maker delivered 4,799 vehicles in the third quarter, up 35.1% from the second quarter, exceeding expectations by a large margin.
NIO rescheduled its conference call for the second quarter (Q2) of 2019 on September 25, clarifying that the company only lost 22 billion yuan ($3.1 billion) instead of the rumored $5 billion.
NIO, one of few Chinese publicly traded EV companies, unexpectedly canceled their second-quarter earnings conference call scheduled to be held on September 24.
An electric car from Chinese EV-maker Weltmeister Motor (WM Motor) caught fire on the road in Wenzhou, a city in eastern China, on September 23, WM Motor confirmed on its official Weibo account.
Chinese electric vehicle manufacturer NIO launched a paid membership service on September 5.
NIO Co-founder and President Qin Lihong publicly stated that NIO will release another electric SUV next year. This SUV will be based on the company’s first generation of SUVs, but in a different shape.
On August 22, a number of employees from NIO, a Chinese electric vehicle company, confirmed to media that the company issued an internal letter stating that it will continue with layoffs. The letter reveals that NIO is planning to retain 7,500 people by the end of September.
On Aug. 13, Chinese EV maker NIO saw its stock close at $3.05, down 2.56%, a day before the company released its July delivery data indicating that only 837 new vehicles were delivered, slumping 37.5% from the previous month.
NIO is seeking a deal with investors that would be willing to finance its spin-off NIO Power. The new project is an effort to stay afloat amid fierce competition from local rivals.
Shanghai-based electric vehicle manufacturer NIO today issued a mass recall of its ES8 models through an announcement made on its official Weibo account.
Tightening emission regulations to combat the pollution issues have pushed the rapid development of new energy vehicles around the world.
2019 Shanghai Auto Show kicked off today with various carmakers showcasing their latest technology, concept cars and new vehicles ready for launch.
Imagine driving in a heavily trafficked Beijing, passing Tiananmen square when you get a notification that your sleek NIO electric car needs to upgrade.