Hyperdrive
Nio Has Been at the Brink Before. Can the EV Maker Rally Again?
The Shanghai-based company once more finds itself trapped in a cycle of dismal sales, low profitability and aggressive competition.
Visitors at the Nio booth at the Shanghai auto show in China earlier this year.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Is Nio Inc., the Chinese electric car company that has already had one near-death experience, edging toward the brink again?
Having being rescued by a local municipal government in China and loyal fans three years ago after it lost more than 70% of its market capitalization following a New York initial public offering, the Shanghai-based company once more finds itself trapped in a cycle of dismal sales, low profitability and aggressive competition.