Struggling to Meet Growth Goals, Nio Turns to Cost Cutting and New Models

Photo by FMT

Summary

• Nio aims to boost cost control and production efficiency as it faces delays in meeting its growth targets.

• The company plans to ramp up production with the Onvo brand, targeting monthly deliveries of 20,000 cars by March 2025.

• Nio is adjusting its strategy by focusing on more affordable models and trimming its workforce.

  
  

---

Chinese electric vehicle (EV) manufacturer Nio is adjusting its strategy as it struggles to meet growth targets that are already two years behind schedule. In an effort to address this, the company is tightening its cost control measures and increasing production efficiency, according to CEO William Li.

Want to read more?

Subscribe to thechinanow.com to keep reading this exclusive post.

Subscribe Now