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Nio implements layoffs and restructures amid disappointing sales performance

Nio has laid off approximately 10% of its workforce across various teams, primarily affecting the sales and service segments, with significant cuts in the UR Fellow department. The company is restructuring to enhance cost control amid disappointing sales figures for its sub-brand Onvo, which has struggled to meet targets since the launch of the L60 model. Despite these challenges, Nio's battery swap stations are reportedly nearing profitability, with construction costs significantly reduced.
CnEVPost
United States Dollar Nicaraguan Córdoba Hong Kong Dollar CHN William Li Qinghua Xia Alan Ai Show more
Business & Industry, News Article
01:19 12.03.2025

Nio implements layoffs and restructures amid disappointing sales performance

Nio has laid off approximately 10% of its workforce across various teams, primarily affecting the sales and service segments, with significant cuts in the UR Fellow department. The company is restructuring to enhance cost control amid disappointing sales figures for its sub-brand Onvo, which has struggled to meet targets since the launch of the L60 model. Despite these challenges, Nio's battery swap stations are reportedly nearing profitability, with construction costs significantly reduced.
CnEVPost
Nicaraguan Córdoba Offshore Chinese Yuan Hong Kong Dollar United States Dollar XIAOMI-W NIO Inc. CHN Alan Ai Qinghua Xia William Li Show more
Business & Industry, Market Report
01:19 12.03.2025
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