NIO Inc. (NIO) Tops Q3 EPS by 35c
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Nio (NIO) considers expanding job cuts
December 7, 2023 8:41 AM ESTChinas Nio Inc. (NYSE: NIO) is reportedly considering further workforce reductions following its recent announcement of a 10% job cut last month.
According to a report released by Bloomberg on Thursday, the electric automaker has instructed certain departments to prepare supplementary lists for potential layoffs,... More
Nio (NIO) to spin off battery unit
December 6, 2023 8:41 AM ESTAccording to an exclusive report by Reuters, citing two unnamed sources familiar with the matter, Chinese electric vehicle maker Nio (NYSE: NIO) plans to spin off its battery manufacturing unit as part of efforts by the company to turn profitable, reduce costs and improve efficiency.
The emerging battery division, headed by experienced manufacturing engineers previously employed at Apple (NASDAQ: AAPL) and Panasonic, plans to... More
Nio (NIO) gains following narrow 3Q losses
December 5, 2023 2:54 PM ESTShares of Chinese electric automaker, Nio Inc. (NYSE: NIO) jumped 4% after the company released their 3Q earnings report showing narrowing losses.
Nio announced revenue of 19.07 billion yuan in the quarter, coming in behind the consensus estimate of 19.4 billion. Revenue rose 47% year-on-year.
The automaker reported an adjusted EPS loss of 2.67 yuan, missing an expected loss of 2.53 yuan.
Investors are directing their attention towards the Chinese electric carmaker's capacity to exhibit greater... More
Nio (NIO) unit, state owned firm wins bid for JAC assets
December 5, 2023 10:40 AM ESTAnhui Jianghuai Automobile (JAC) announced Tuesday that Nios (NYSE: NIO) Anhui division and a state-owned entity under the Hefei government of China successfully secured assets from JAC valued at a total of 4.58 billion yuan ($641.2 million).
Nio confirmed the deal in an exchange filing.
Under this agreement, Nio will acquire specific fixed assets and equipment from two JAC factories for 3.16 billion yuan. Additionally, Hefei... More
China releases safety guidelines for autonomous public vehicles
December 5, 2023 9:38 AM ESTChina released safety protocols on Tuesday governing the deployment of self-driving vehicles in public transportation, marking another step in readiness for the growing integration of autonomous cars.
The guidelines cover self-driving vehicles designated for transporting passengers, such as taxis, and those involved in freight transportation, as highlighted by the Ministry of Transport's official statement.
They specifically address... More
