China’s EV threat: A car maker that loses $35,000 a vehicle

News Snapshot:

Open this photo in gallery: The Nio booth at the Auto Shanghai 2023, on April 19.QILAI SHEN/The New York Times News Service Nio, a Chinese electric car company that competes with Tesla, employs 11,000 people in research and development, but sells a mere 8,000 cars per month. It has invested so extensively in robots that one of its factories employs just 30 technicians to make 300,000 electric car motors a year. Nio offers $350 augmented reality glasses for each seat in its cars, and has introduced a cellphone that interacts with the car’s self-driving system. And none of it is...