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Nio rebounds from the brink with record sales

The Verge Tuesday, 11 August 2020
Nio rebounds from the brink with record salesImage: Nio

Chinese EV startup Nio has rebounded from the early months of the COVID-19 pandemic, setting a company record for deliveries and revenue during the second quarter of 2020. Buoyed by a return to strong automotive sales in China, a successful rollout of the updated version of its first electric SUV, and a recent $1 billion investment from local government entities, the startup now appears to be on its most solid footing since late 2018.

Nio, which is backed by Tencent, has found that footing at a pivotal moment. While the pandemic helped put a number of other startups in danger of going out of business around the world — including some seen as potential frontrunners, like Byton — competition has once again heated up in China as the...
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