Tesla is on track to topple BYD as the world's largest NEV manufacturer. To make things worse, now that Tesla has a factory in China, its low-end products are priced almost at the same level as BYD's high-end products.
NIO, one of few Chinese publicly traded EV companies, unexpectedly canceled their second-quarter earnings conference call scheduled to be held on September 24.
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.
Imagine driving in a heavily trafficked Beijing, passing Tiananmen square when you get a notification that your sleek NIO electric car needs to upgrade.
In Ep. 22 of TechBuzz China, co-hosts Ying-Ying Lu and Rui Ma talk about electric carmaker NIO, which went public on September 12 on the NYSE. This episode covers how NIO got started, its purported business model, and how it differs from its competition.
Chinese electric-vehicle maker, NIO, has updated its initial public offering (IPO) prospectus and set terms to raise a total of $1.32 billion.
Electric car startup NIO announced the official delivery of its second batch of ES8 on June 28, which was the first time the company has delivered vehicles to consumers in the market.