Nio denies job cut rumors

Chinese electric vehicle manufacturer, Nio, has denied rumors of a 50% workforce reduction, calling the claims “utterly absurd” after consulting with its HR head on Feb. 19.

The company said that its legal team has reported the matter to authorities.

It also highlighted ongoing hiring efforts, directing job seekers to its WeChat account, “Nio Recruitment”.

Recent NIO developments

Timeline
23-Dec-2024 🚗 Nio launches Firefly EV with battery-swap tech Nio launches compact EV under Firefly brand Features battery swap tech, deliveries start April 2025
20-Dec-2024 🚗 Nio aims profitability, global growth by 2026 Nio aims for profitability by 2026 Plans to expand into 25 overseas markets by 2024
20-Nov-2024 📉 Nio misses revenue targets, faces loss amid Tesla pressure Nio reports lower revenue, higher loss in Q3 Vehicle sales decline amid competitive pricing pressures
30-Sep-2024 📈 Nio subsidiary earns $471m in funding Nio’s subsidiary secures 3.3B yuan funding Hefei government continues support for Nio
21-Dec-2023 🚗 Nio bags $2.2b investment from Abu Dhabi-based CYVN Nio secures US$2.2B from CYVN Holdings CYVN gains 20.1% stake and director nominations
12-Jul-2022 🚗 Nio hits back at fraud allegations, launches independent investigation

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Recent NIO developments

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