Nio reports best ever vehicle margins, rules out mass market entry

Chinese electric vehicle maker Nio (NYSE: NIO) on Thursday reported revenues of RMB 7.98 billion (USD 1.22 million) for the first quarter, an increase of 481.8% year-on-year, and a net loss of RMB 451 million (USD 68.8 million), which was 73.3% less than in the same period last year. The company said its vehicle margin reached 21.2%, compared with –7.4%…
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