Nio (NYSE: NIO) shares are dropping sharply today, one day after it and other Chinese electric vehicle makers announced January deliveries that dropped month over month. Nio reported it shipped 9,652 EVs in January, down 8% from December deliveries of 10,489. While Nio shares rebounded yesterday after the news, investors today may be taking the view that it is losing to its domestic competitors as the data results were digested more today.
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