Chinese electric vehicle maker Nio faces cash crunch
Falling demand and reduced government subsidies for EVs in China have hurt Tesla challenger Nio
18 March 2020 - 16:47
Cash-strapped Chinese electric vehicle (EV) maker Nio says there is substantial doubt in its ability to continue as a going concern, sending its shares down 12% in premarket US trading.
The carmaker, seen as a challenger to Tesla, has been hurt by dwindling demand and reduced government subsidies for EVs in China, the world’s largest car market...
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