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Chinese electric carmaker Nio lays off 10 per cent of workforce – South China Morning Post

Chinese electric carmaker Nio lays off 10 per cent of workforce – South China Morning Post

Chinese electric carmaker Nio lays off 10 per cent of workforce amid fierce competition in world’s largest EV marketChinese electric carmaker Nio has cut 10 per cent of its employees in a bid to slash costs, boost efficiency and stay competitive in a market where 60 per cent of all new vehicles will be electric by 2030.The move was announced on Friday by William Li Bin, founder, chairman and chief executive of Nio, who described the lay-offs as “a tough… 

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