Nio, a Chinese electric car company that competes with Tesla, employs 11,000 people in research and development, but sells a mere 8,000 cars per month. It has invested so extensively in robots that one of its factories employs just 30 technicians to make 300,000 electric car motors a year. Nio offers $350 augmented reality glasses for each seat in its cars, and has introduced a cellphone that interacts with the car’s self-driving system. And none of it is profitable — far from it. Nio lost $835 million from April through…
Nio Loses $35,000 a Car. That Should Scare the U.S. and Europe.
