V1_VO-Nio-EV-maker-how-much-funds-from-gov

[STORY TITLE] CHINESE EV COMPANY LOSES $35K PER CAR SOLD

Plz add some CGs

https://www.nytimes.com/2023/10/05/business/nio-china-electric-vehicles.html

plz fact check with Chinese media articles.

TIFF 

VO

Are china-based electric car companies playing fair with western E-V makers?

A new new york times report suggests the Chinese companies may be using unfair market tactics to get ahead.

Chinese electric car maker nio is losing 35-thousand dollars for each car it sells.

But according to the report, Nio and other china based e-v companies are getting tremendous state backing -- allowing them to withstand losses they normally couldn't.

on top of that, state backing helps the companies grow even as while losing money.

back in 20-20 -- Nio was running out of money. Local officials gave the company one billion dollars to keep it operating.

In light of this, European lawmakers have officially launched an investigation into electric car manufacturers in China. they're worried that markets are being flooded with cheap chinese e-v's -- and that prices for them are kept artificially low by state subsidies.