Images: Canoo The startup founded by Faraday Future expats has revealed its first vehicle There are myriad electric vehicle startups nowadays — especially in China — and they all tend to make the same kind of promise about revolutionizing the automotive indus…
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Month: September 2019
To survive, Faraday Future really needs investors to buy its dream
At Faraday Futures facility in Southern California, the press walked around while a designer scraped a physical clay car model and workers tinkered on the manufacturing floor. It was a show for the media by remaining employees after one of the auto industrys…
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The Tesla rival NIO will lay off just over 20% of its workers after reporting another big loss (NIO)
The Chinese electric-vehicle startup NIO will lay off just over 20% of its workforce, the company said on Tuesday. The announcement came in the company’s second-quarter earnings release, in which it reported a net loss of $478.6 million on revenue of $219.…
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The ‘Tesla of China’ craters 30% after announcing a bigger-than-expected loss and thousands of job cuts (NIO)
Shares of Nio, an electric carmaker that’s often referred to as the “Tesla of China,” saw its two-day loss extend as far as 30% after reporting a bigger-than-expected loss for the second quarter.Nio’s losses amounted to more than $478 million…
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China’s “Tesla Killer” Nio slashes thousands of jobs as losses mount
NEW YORK — Chinese electric vehicle maker NIO said it will lay off another 1,000 employees Tuesday, after reporting heavy losses, adding to growing uncertainty around the startup’s future. The New York-listed company’s new round of restructuring will be con…
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