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© pinonsky dreamstime.com General | December 17, 2019

Long and winding road for China’s EV maker NIO

In its third round of layoffs this year, NIO US has filed another WARN notice with the State of California’s EDD office indicating 141 layoffs, bringing the total to 273 for the year.

The most current notice date for affected employees of the Chinese electric vehicle maker landed on December 6, with an effective date of February 4, according to the latest WARN report. The bumpy road for NIO began earlier this year. The company recorded losses in the first two quarters of 2019 and then issued a voluntary mid-year recall of 5,000 vehicles following battery fires in China. In November, Intel issued a press release with news that its EV technology-centered company, Mobileye, was forming a strategic collaboration with NIO for highly automated and autonomous vehicles for consumer markets in China and other major markets. The partnership would call for NIO to engineer and manufacture a Mobileye-designed system that builds on its Level 4 AV kit, according to a story reported by The Verge. Formed in 2018, NIO launched its first electric vehicle, an SUV, in June 2018 and maintains a North American headquarters in San Jose.
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March 27 2020 12:33 pm V18.4.17-2