Installment Loans North Dakota

Nio Has To Raise More Cash to Endure

Posted by on Mar 5, 2020 in Installment Loans North Dakota | Comments Off

A large interest repayment is due Feb. 1, but Nio will probably come to an end of money in advance

Many reports arrived on Wednesday, Jan. 15 that Nio had raised $1 billion in funding from Guangzhou vehicle Group (OTCMKTS: GNZUF ).

Nevertheless, on Thursday, the South Asia Morning Post reported 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 ended up being released on Dec. 30, 3 months following the end of its 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 assets readily available. This means Nio lost $228.7 million into the 3rd quarter.

Therefore the ongoing business cannot manage to carry on burning through such considerable amounts of money.

Throughout the quarter that is third Nio burned through $228.7 million. Additionally the company probably burned through the same amount within the 4th quarter.

Read More