Nio Inc., a Chinese electric vehicle manufacturer, announced disappointing financial results for the third quarter. The company"s revenue fell short of analyst expectations due to a competitive price war in the EV market.

The company generated 18.7 billion yuan ($2.6 billion) in revenue, driven by a record delivery of 61,855 vehicles. However, this figure was below the anticipated 19.2 billion yuan. Nio also reported an adjusted net loss of 4.4 billion yuan for the quarter, which exceeded analysts" projections of a 4.3 billion yuan loss.

These challenges faced by Nio reflect the intense pricing pressures within the Chinese electric vehicle sector, impacting both revenue and profitability.