Electric Vehicles
EV Maker Nio Flags Sluggish First Quarter, Pledges Cost Cuts
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Nio Inc. flagged first-quarter results likely to disappoint market watchers after finishing 2024 on a weak note.
The Chinese electric-vehicle maker now expects to deliver only as many as 43,000 cars in the three months that will end March 31 and report revenue of about 12.9 billion yuan ($1.8 billion), the company said Friday. That’s short of the roughly 65,000 units and 17.8 billion yuan the market was looking for.