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Podcast: IEN Radio
Episode: Chinese EV Startup Slashes Jobs
Description: Nio delivered fewer cars as the government phases out subsidies for electric vehicles. Electric vehicles are considered part of the future of transportation, but in the present day, conventional automakers tend to have trouble selling them, and startups tend to have trouble making money on them. The latest example of the latter phenomenon appears to be Nio, a Chinese company listed on Wall Street and backed by the Tencent conglomerate and other major tech and investment firms. Nikkei reports that the startup EV maker, after laying off hundreds last month, canceled its scheduled earnings call an...