Nio pledges to cut costs as net losses widen

Nio’s Q4 2024 results were released on 21 March, and included substantially worse-than-expected net losses of CN¥7.13bn (US$980m) against CN¥5.59bn a year prior. It also lowered its forecast for Q1, warning investors to expect car sales in the region of 43,000—Wall Street analysts were expecting around 65,000—and revenue of up to CN¥12.9bn.