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China EV news: China s EV threat: A carmaker that loses $35,000 a car

Chinese electric car company Nio, which competes with Tesla, employs 11,000 people in R&D but only sells 8,000 cars per month. Despite heavy investments in robots and technology, Nio is not yet profitable, losing $835 million from April to June. However, Nio and other Chinese electric vehicle companies receive strong government backing, allowing them to withstand losses and continue growing.

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