10-06-2023, 05:04 PM
Nio, a Chinese electric car company that competes with Tesla, employs 11,000 people in research and development, but sold a mere 8,000 cars per month from April through June.
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 in the second quarter, or $35,000 for each car it sold.
https://www.nytimes.com/2023/10/05/busin...icles.html