Chinese EV Maker NIO Begins New Round of Layoffs Amid Struggling Sales

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Chinese electric vehicle start-up NIO is starting another round of layoff as its car sales have plummeted. Due to challenges of car quality, recalls, and dwindling sales, NIO will lay off 1,200 staff by the end of September. After that, its total number of employees will be around 7,500, Li Bin, founder, chairman and CEO of NIO, said in an internal email.

China Money Network

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