Hyperdrive
Chinese EV Maker Nio to Reduce R&D Costs to Hit Break-Even Goal
Nio Inc. electric vehicles move through a production line at the company's factory in Hefei, China.
Photographer: Nicholas Takahashi/BloombergNio Inc. aims to reduce research and development spending by as much as 25% as it seeks to reach its break-even target by the fourth quarter.
Expenses may drop to between 2 billion yuan ($278 million) to 2.5 billion yuan per quarter, or a 20% to 25% decrease from last year, the Chinese electric-vehicle maker said on its earnings call Tuesday.