NIO, China’s EV Giant, Nears Bankruptcy With an $2 Billion 8-Year Loss; 400+ Automakers Ousted
On the morning of August 31, a traffic accident occurred on the Longgang Red Highway in Wenzhou. A gray NIO car suddenly lost control and violently crashed into a parked white car on the side of the road, sending it flying. It also smashed a tricycle into pieces, completely destroying it on the spot. The scene was a total mess. According to surveillance footage, the front of the NIO car was severely damaged, but the airbags did not deploy. The driver of the NIO claimed to have over 20 years of driving experience. As of now, the details of any injuries remain unclear.
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