There could be more consequences to come as Nio is in advanced plans to enter the competitive mass auto market.
Automakers in China is struggling to regain the momentum lost during a citywide lockdown in Shanghai that began in late March.
Nickel price surge could further increase the cost of electric vehicles and force automakers to cut earnings forecasts.
While Chinese companies won’t be the first to deliver road-ready lidar systems, they could be the first to do it at a practical price.
Big auto and big tech announced EVs at Auto Shanghai 2021, putting pressure on young EV upstarts.