Global Analysis from the European Perspective. Preparing for the world of tomorrow

China startup Nio sheds 1,000 jobs, months after NY listing

The struggles of an automaker dubbed China’s answer to Tesla cast a shadow over the outlook for the country’s electric vehicle industry. The company, established in 2014, listed on the New York Stock Exchange last September. The restructuring came amid a steep decline in sales. Nio moved only about 4,000 units of its mainstay ES8 sport utility vehicle in the January-March quarter and 3,000 in April through June, down from around 8,000 in the last three months of 2018. Source Asian Review

GEFIRA provides in-depth and comprehensive analysis of and valuable insight into current events that investors, financial planners and politicians need to know to anticipate the world of tomorrow; it is intended for professional and non-professional readers.

Yearly subscription: 10 issues for €225/$250
Renewal: €160/$175

The Gefira bulletin is available in ENGLISH, GERMAN and SPANISH.