A big interest payment arrives Feb. 1, but Nio will probably run out of cash beforehand
Numerous reports arrived on Wednesday, Jan. 15 that Nio had raised $1 billion in funding from Guangzhou Automobile Group (OTCMKTS: GNZUF ).
But, on Thursday, the installment loans online rhode island no credit check Southern Asia Morning Post stated that Guangzhou Automobile had verified so it would possibly spend as much as just $150 million in Nio.
Nio Is Starving for Money
Nio’s third-quarter report had been released on Dec. 30, 3 months following the end of the matching quarter. The report shows Nio’s cash position was right down to just $274.3 million.
But on June 30, 2019, Nio had $503 million in money and opportunities readily available. Which means Nio lost $228.7 million within the quarter that is third.
Therefore the company cannot manage to carry on burning through such considerable amounts of money.
Throughout the 3rd quarter, Nio burned through $228.7 million. Continue reading Nio Has To Raise More Money to Endure