Nio

Chinese electric vehicle (EV) maker Nio Inc has launched a battery leasing service that will allow drivers to buy an EV without owning the battery pack - one of the most expensive EV components - thereby lowering the starting price of its cars. The cheapest Nio car after subsidies is now an ES6 sport-utility vehicle (SUV) priced 273,600 yuan ($39,553) without ownership of the battery pack, versus 343,600 yuan including the pack. "We believe with BaaS, more customers of gasoline cars will consi

The 27-year-old German lost his real world drive after he let a gamer take his place, without the rest of the field knowing, in an official Formula E 'Race at Home Challenge' event. Abt, a winner in Berlin in 2018, will replace Chinese driver Ma Qinghua alongside British driver Oliver Turvey at the Chinese-owned team in the season finale behind closed doors at the old Tempelhof airport next month.

The carmaker, seen as a challenger to Tesla Inc , has been hurt by dwindling demand and reduced government subsidies for electric vehicles in China, the world's largest car market. Last month, it signed https://www.reuters.com/article/nio-funding-electric/update-1-chinese-ev-maker-nio-in-talks-with-hefei-on-funding-plants-idUSL3N2AP2L8 framework agreements with Hefei's city government to raise more than 10 billion yuan and set up new manufacturing facilities. Vehicle sales in China fel

Nio sold 603 units of model ES8 and 4,196 units of its cheaper ES6 model in the quarter. Nio's ES8, a pure-electric, seven-seater sport-utility vehicle, is widely seen as a rival to Tesla Inc's Model X. The company counts Chinese internet giant Tencent Holdings and Hillhouse Capital Management as its shareholders, and raised $1 billion last year in an initial public offering that valued it at $6.4 billion.

Electric vehicle startup Nio is laying off 141 people at its North American headquarters. According to a filing from Employment Development Department of California, the employees at its San Jose office received notice on December 6. Nio, whose global headquarters are in Shanghai, announced last month that it is partnering with Intel’s Mobileye to develop autonomous vehicles for consumers.

It's a fastback sedan said to boast Level 4 autonomous capability.

All press is good press?

It'll do 0-62 mph in 4.7 seconds.

Shares in NIO fell 15 percent one day after the company's IPO.

Has begun deliveries of its electric SUV, plans to go public on the NYSE.