A co-founder of Nio has quit, the latest in a string of departures at the $3 bln Tesla wannabe. Its woes may also portend slowing premium demand: that should worry peers. petesweeneypro
Nio announced on Aug. 14 that co-founder and Executive Vice President Hsien Tsong Cheng would step down from his position. In June software chief Li Zhang and UK head Angelika Sodian departed, the Financial Times reported, while U.S. Chief Executive Padmasree Warrior left at the end of 2018.
Industry data shows clean energy vehicle sales in China fell to 80,000 units, down from 152,000 in June.
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