China's "Tesla Killer" NIO Struggles to Stay Afloat in Cutthroat EV Market
Benzinga
Benzinga
  • 10 months ago
Electric car startup NIO faces significant challenges in the competitive Chinese EV market, leading to price cuts, reduced investments, and increased cash burn. Abu Dhabi government-backed entity will invest $740 million to manage liquidity risks. Sales expected to rebound in June with new SUV launch. Tesla holds second-largest position in China's EV market.
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