Is Nio Stock Following in Tesla’s Footsteps?

Nio (NYSE: NIO) has been a polarizing Chinese electric vehicle (EV) company, to say the least. With questions surrounding Nio, as well as red flags, are the company’s two recent moves following in Tesla’s (NASDAQ: TSLA) footsteps to regain momentum — or just another red flag? Beginning in the middle of June, Nio cut prices for all models in China by 30,000 yuan, or roughly $4,200, even on its revamped ES6 and ES8 models.

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