After deliveries, the Chinese EV Nio Manufacturer is split

The company‘s net loss expanded 83% in the second quarter from a year earlier and reported a nearly 8% decline in vehicle sales from the following quarter.

US-listed shares of Chinese electric car maker NIO Inc, a rival of Tesla Inc., fell more than 18% on Tuesday after the company posted a drop in quarterly vehicle sales, citing slower growth due to the US-China trade war.

The company also said it would cut jobs to 7,800 from nearly 10,000 in January and canceled its second-quarter call after profits./

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