(Reuters) – Cash-strapped Chinese electric vehicle (EV) maker Nio Inc
The carmaker has been hurt by dwindling demand in China, the world’s largest car market, and reduced government subsidies for electric vehicles.
Its cash balance of $151.7 million as of Dec. 31 was not adequate to provide the required working capital and liquidity for continuous operation in the next 12 months, the company said in a statement.
(Reporting by Supantha Mukherjee in Bengaluru; Editing by Saumyadeb Chakrabarty)




