NIO CEO Pledges Improving Finances Even as Tesla Challenge Looms
- Struggling electric-car maker unveils new streamlined SUV
- Earnings scheduled for Monday expected to show mounting losses
This article is for subscribers only.
The head of NIO Inc. pledged an improvement in the struggling Chinese electric-car maker’s finances as demand picks up and the company’s cost-cutting efforts start to bear fruit.
NIO’s sport utility vehicles will be competitive not just against other electric models, but all premium cars in the same price range, said William Li, NIO’s co-founder and chief executive officer. Meanwhile expense reductions will help NIO’s gross margin to widen in 2020, Li said.