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...This article has been amended to make clear that Nio founder Li did not specifically refer to Elon Musk’s trip to China last month, as originally suggested...
...Nasdaq-listed Nio, which took over a factory in the eastern city of Chuzhou earlier this year to make cars for its budget sub-brand code-named Firefly, and Xpeng, which has a new factory in Wuhan, are both...
...He added that Nio had “not become profitable yet” and currently lost about $12,000 for every car it sells....
...Such was the demand to attend the Nio Day, tickets were available only through a lottery system....
...By removing the battery from the car’s cost, Nio hopes customers will be able to access vehicles far more cheaply....
...Nio’s shares trade nearly 90 per cent below their 2021 peak. Nio has delivered 43,854 vehicles in the first five months of the year....
...Had we not, the Nasdaq screen would’ve looked like this: Ignoring the oddities the world’s most shorted stock, both in absolute and relative terms is Nio....
...In January 2022, Zhang Yang, a former vice-president at rival Nio, was appointed as chief executive, replacing co-founder Gu Feng in a management shake-up to boost sales....
...LXI (FT) SEC charges fintech Tingo chief with ‘massive’ fraud after Hindenburg short position (FT) Ex-Freshfields partner on trial for tax fraud takes ‘full responsibility’ for errors (FT) Tesla rival Nio...
...Xpeng’s Hong Kong-listed shares climbed more than 33 per cent while those of domestic peers Nio and Li Auto rose 12 per cent and 4.2 per cent respectively....
...Nio already has about 800 stations in China’s biggest cities, a total it expects to reach 4,000 by 2025....
...Nio was kept afloat after securing a $1.4bn lifeline from the Anhui provincial government in 2020....
...A version of this article was first published by Nikkei Asia on December 30 2022. ©2022 Nikkei Inc....
...But Rivian, Lucid, Nio, XPeng and Nikola are all down as much or even more. They are not down because Elon Musk bought Twitter, and neither is Tesla....
...Shanghai-based Nio has also targeted the top end of China’s EV market with luxury models. It sold 10,878 cars in September, a nearly 30 per cent jump year on year....
...BYD is among a clutch of Chinese electric vehicle makers hoping to break into the region, including Nio, XPeng and Aiways....
...A version of this article was first published by Nikkei Asia on October 12 2022. ©2022 Nikkei Inc. All rights reserved....
...Tesla, along with a clutch of Chinese EV makers including Li Auto, Xpeng and Nio, were harder hit by the lockdowns than BYD, which benefited because most of its factories are not based in the regions and...
...Nio holds more than 1,200 patents for its battery pack and swapping technologies....
...Friday: Chinese electric vehicle maker Nio makes its debut on the Singapore Exchange, after the company was added to the US list of entities facing possible expulsion from its stock exchanges earlier this...
...From China’s Nio to the Amazon-backed, one-time Wall Street darling Rivian, almost every one of the auto world’s feisty new entrants has stumbled at this stage....
...But newcomers Nio, Xpeng, Human Horizons and Jidu Automotive are also challenging Tesla by banking on a future dominated by driverless vehicles....
...Russia links that risk further US sanctions (FT) Indonesia’s humble rattan moves on from furniture to electric cars (Nikkei Asia) Hong Kong biotech start-up Medera bets on ‘heart in a jar’ (Nikkei Asia) Nio...
...On Thursday electric carmaker Nio began trading its shares in Hong Kong following Washington’s move to increase scrutiny of its books....
...It joins a roster of Tesla rivals led by Nio, XPeng and Human Horizons racing to develop driverless cars....
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