- Electric carmaker Nio Inc is to slash jobs to control expenses and improve operational efficiency, as the Chinese startup feels the pinch from a lackluster performance and the overall slowdown in the country.
- In the first seven months of 2019, the company delivered 8,379 vehicles.
- The company posted a net loss of 2.62 billion yuan ($370 million) for the first quarter of this year, 71.36 percent more than the same period in 2018.