Reported 2 months ago
Nio's stock fell 8.3% after the company reported July deliveries of around 20,500 electric vehicles, a 2% increase from the previous year but a slight decline from June's figures. Investors are disappointed as they anticipated stronger sales growth and a path towards profitability; the company has seen a 55% decline in stock value this year. In contrast, rival Li Auto posted a 50% increase in July deliveries, raising concerns about Nio's competitiveness in the market.
Source: YAHOO