Nio is cutting ten percent of its workforce

Nio is making good progress, also here in Europe. It is launching several new electric cars on the market, is continuing with its battery changing stations and even wants to specifically serve Europe with a budget brand. The trees grow into the sky, it seems, with the emphasis on ‘seems’. Nio is now forced to take strong measures to keep its financial situation healthy. As much as ten percent of the workforce will be cut, it is understood Reuters. That amounts to about 3,000 jobs.

Nio delivered 126,067 cars worldwide this year through October. In October there were 16,074, almost 60 percent more than in that month last year. This is significant growth, but apparently there are still reasons for concern. Nio wants according Reuters save costs and work more efficiently with the reduction of the workforce. The leveling off growth in electric car sales would also have something to do with it. Not only here, but also in China, the strongest growth in the market for fully electric cars seems to be waning somewhat.

Here in the Netherlands, Nio is still a small player. 189 Nios were sold this year. However, that is already more than in the whole of 2022, when there were 52. The most popular Nio in our country is the Nio ET7. Of these, 118 have now been sold.