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Electric Vehicle Startup Nio Lays Off 141 Employees at Its North American Headquarters

Nio, an electric vehicle startup is now laying off around 141 people at the North American headquarters. They are something more than a mere car company. They design as well as develop high-performance and smart electric vehicles. According to the filing from the Employment Development Department of California, all the employees at the San Jose office got notice on 6th December. The headquarter of Nio situates in Shanghai, and last month it had announced that Nio is building partnership with the Intel’s Mobileye to establish the autonomous vehicles for the consumers. Under the concurrence, Nio will produce and engineer a self-driving system outlined by Mobileye. Nio as offices throughout 11 cities including Munich, London and Beijing.

After passing so many difficult years, Nio finally got a spot of bright news because of the partnership with Intel. In their 3rd quarter Nio saw an uptick in the sales and thanks in the part for the competitive prices. However, they shared the prices have fallen around 78% from the end of February. The company had experienced losses during the 1st and 2nd quarters of this year. Besides, in June, they recalled 5000 ES8 electric SUV of its own after the battery fires in the China by impacting the production as well as delivery. In September, during the earning report of the company, the CEO William Li said that the Nio would implement the cost cutting measures which will include decreasing the workforce down to 7,800 from 9,900 at the end of the 3rd quarter.

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Shahina Khatun

Shahina is a Web Developer, Content Writer, SEO Expert and Social Media Marketer.

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