{"id":1190,"date":"2020-08-22T06:17:41","date_gmt":"2020-08-22T06:17:41","guid":{"rendered":"https:\/\/businessner.com\/?p=1190"},"modified":"2022-04-27T10:12:24","modified_gmt":"2022-04-27T10:12:24","slug":"china-electric-car-maker-nio-is-planning-to-go-global","status":"publish","type":"post","link":"https:\/\/businessner.com\/china-electric-car-maker-nio-is-planning-to-go-global\/","title":{"rendered":"China Electric Car Maker Nio is planning to go Global"},"content":{"rendered":"
The largest electric car producer in China, Nio, is expecting a global expansion in the next few years, reported CNBC Friday<\/a>.<\/p>\n Nio<\/a> is the Tesla<\/a> equivalent car manufacturer in Asia and saw a 240% rise in stock prices in 2020 amid the pandemic. The company was listed in the U.S market two years ago.<\/p>\n However, the historical performance was not notable enough for the company. Due to the financial troubles, Nio share prices dropped almost 80% in the last year. Hence, Nio had to lay off significant numbers of employees whereas some founders left the company at the same time.<\/p>\n \u201cWe hope in the second half of next year we can begin making some preliminary attempts in some countries that are more welcome to electric vehicles,\u201d William Li, founder and chairman of Nio.<\/p><\/blockquote>\n With a recent $1 billion investment from state-backed investors helped Nio to have a major turnaround in the middle of the Coronavirus crisis.<\/p>\nElectric Car sales Turnaround during the Pandemic<\/h2>\n