From surviving to thriving: Nio’s take on coronavirus success strategy

Now is not an easy time to be a Chinese automaker with a focus on EVs, but Nio sees no alternative to full steam ahead. By Megan Lampinen

Chinese electric vehicle (EV) maker Nio has been fighting an uphill battle this year. Its stock has fallen more than 40% based on recent closing prices while a weakening balance sheet prompted management to publicly raise fears about remaining ‘a going concern’. Meanwhile, oil prices have plummeted to a nearly 20-year low, a move unlikely to stimulate interest in its line-up of EVs. On top of all this came the novel coronavirus, which brought much of China’s manufacturing industry to a standstill and kept shoppers at home for prolonged periods.

“We were one of the lucky ones in terms of impact,” Nio’s Hui Zhang, Vice President, Europe, tells Automotive World. …

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