Troubled Chinese Electric-Car Maker Loses Finance Chief

Hsieh resigns as CFO for personal reasons; replacement sought
Departure comes just as NIO works to bolster its funding

A NIO Inc. EP9 sports car stands on display inside the Nio House showroom at the Shanghai Tower in Shanghai. — A NIO Inc. EP9 sports car stands on display inside the Nio House showroom at the Shanghai Tower in Shanghai.
Photographer: Qilai Shen/Bloomberg

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By Bloomberg News

October 28, 2019 at 10:23 AM UTC

Updated on

October 28, 2019 at 9:19 PM UTC

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The chief financial officer of troubled Chinese electric-car maker NIO Inc. is leaving the company just as it struggles to ramp up sales and avoid a cash crunch.

Louis Hsieh has resigned as CFO for personal reasons, NIO said Monday in a statement, adding it has started to look for a replacement.