- THE head of NIO Inc pledged an improvement in the struggling Chinese electric carmaker’s finances as demand picks up and the company’s cost-cutting efforts start to bear fruit.
- China’s electric car market is slowing as the government reduces subsidies, and competition is getting tougher with Tesla preparing to start deliveries of its China-built Model 3 sedans.
- Yet losses will probably continue to mount: for 2020, the average loss estimate is US$1.2 billion on revenue of US$1.7 billion.