Chinese EV Maker Nio to Reduce R&D Costs to Hit Break-Even Goal
Nio Inc. aims to reduce research and development spending by as much as 25% as it seeks to reach its break-even target by the fourth quarter.
Expenses may drop to between 2 billion yuan ($278 million) to 2.5 billion yuan per quarter, or a 20% to 25% decrease from last year, the Chinese electric-vehicle maker said on its earnings call Tuesday.
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