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Benzinga
Benzinga
World
Rachit Vats

Nio's William Li Says EV Maker On Track To Break Even In 2024 Amid Rising Chip, Raw Material Prices

William Li Nio Inc NYSE

Chinese electric vehicle maker Nio Inc (NYSE:NIO) said on Friday that supply chain issues, chip shortages and higher raw material prices continue to be a challenge for the industry and that it expects to achieve a full year breakeven in 2024.

Higher Raw Material And Chip Prices: Nio’s founder and CEO William Li told investors in a post earnings call on Friday that Shanghai-based Nio plans to make product improvements and will consider product pricing strategies based on the price of raw materials.

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