The changes focus on Onvo, which remains a sub-brand but will operate as a first-tier division of Nio.
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Category: NIO Team
In several cities, sales of Nio and Onvo brands are starting to be headed by the same person.
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Shen joined Nio in 2015 and is one of the company's earliest core management members.
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Nio's goal of achieving single-quarter profitability in the fourth quarter will require it to become more rational in cost control, resource allocation and priority setting, said William Li.
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The layoffs should be around 10 percent, with some variation by region, according to a local media report.
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Nio has introduced a CBU system to strengthen cost control, and multiple functions will be downsized based on full-year targets, according to local media.
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Nio said the rumor is ridiculously untrue and it has reported it to the police.
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William Li mentioned that Nio seeks to achieve single-quarter profitability in the fourth quarter of 2025.
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Nio starts offering rewards of between RMB 10,000 and RMB 1 million ($140,000) for tips on malicious online attacks.
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This is the second time Nio has made adjustments to its smart driving team to accelerate the use of end-to-end technology to remake smart driving features.
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