www.fool.com/investing/2022/04/06/...is-tumbling-again-today/
Rising competition, disturbing news from China, and rumors that a Nio executive plans to quit are just some of the reasons why investors in the electric vehicle (EV) company are feeling nervous....However, more and more automakers now want to make a splash in the EV market and beat Tesla at its own game. The latest news on such plans came from General Motors ( GM -3.15% ) and Honda ( HMC -3.58% ) on Tuesday. The legacy automakers announced a collaboration to develop affordable EVs using GM's Ultium battery technology. The companies expect to start mass global production of those new vehicles by 2027.
For Nio though, it could mean even more intense competition as it attempts to eventually create an affordable, mass-market EV brand.
Meanwhile, fears of slower economic growth are emerging yet again with coronavirus cases surging in China. ..And, if rumors are to be believed, Nio's associate vice president of autonomous driving, Zhang Jiangyong, is quitting, according to CnEvPost...