SHANGHAI -- Chinese electric vehicle startup Nio has revealed it will slash its workforce by 10% this month to streamline its organization and development targets as well as better manage costs amid heated competition in the domestic EV market.
Electric cars in China
China's Nio to ax 10% of staff as domestic EV scene heats up
The next two years will be 'the most competitive stage,' company tells employees
Nio will slash its workforce by 10% amid intensifying competition at home. (Photo by Tomoko Wakasugi)
Read Next
Latest on Electric cars in China
