Nio looks to ride uptick in EV sales out of slump in crowded market

Nio looks to ride uptick in EV sales out of slump in crowded market

FILE PHOTO: An NIO ET7 car model is presented at the NIO House, the showroom of the Chinese premium smart electric vehicle manufacture NIO Inc. in Berlin, Germany August 17, 2023. REUTERS/Annegret Hilse/File Photo

From startup to prominent brand, Chinese electric-vehicle (EV) maker Nio Inc. entered the industry when it was still budding and rode the wave of demand to the top, where it is now facing competition from an influx of new and traditional carmakers.

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