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Electric vehicles

One year after the listing, the story of China’s Tesla has run out of fuel

The segment is expected to face stiff competition from powerhouse Tesla, which broke ground on a Shanghai factory early this year — its first outside the U.S. — as it holds out big hopes for the China market.
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17 Sep 2019 4 Mins Read 1 comments
The assembly line of the Nio ES8 electric vehicle at a factory at Hefei in Anhui province of China Getty Images
The assembly line of the Nio ES8 electric vehicle at a factory at Hefei in Anhui province of China
By Mo Yelin Electric-car startup Nio Inc. was the envy of its class when it powered past hundreds of Chinese peers a year ago to make a New York IPO. Sometimes called the "Tesla of China," it achieved the feat just four years after its founding, after an aggressive expansion that included opening a network of offices around
a forecast 10.3 billion yuan loss this year, it said in a research note. In an interview with Bloomberg in June, CEO Li said Nio would make a profit “within a few years.” Commenting on the recent rout in his company’s stock, he urged investors to understand “the long-term investment value” of the company. ( Source: Caixin Global)
By Mo Yelin Electric-car startup Nio Inc. was the envy of its class when it powered past hundreds of Chinese peers a year ago to make a New York IPO. Sometimes called the "Tesla of China," it achieved the feat just four years after its founding, after an aggressive expansion that included opening a network of offices around a forecast 10.3 billion yuan loss this year, it said in a research note. In an interview with Bloomberg in June, CEO Li said Nio would make a profit “within a few years.” Commenting on the recent rout in his company’s stock, he urged investors to understand “the long-term investment value” of the company. ( Source: Caixin Global)

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