A big interest repayment is born Feb. 1, but Nio will probably come to an end of money upfront
Many reports arrived on Wednesday, Jan. 15 that Nio had raised $1 billion in funding from Guangzhou vehicle Group (OTCMKTS: GNZUF ).
But, on the South China Morning Post reported that Guangzhou Automobile had confirmed that it would potentially invest up to only $150 million in Nio thursday.
Nio Is Starving for Money
Nio’s report that is third-quarter released on Dec. 30, 3 months after the end of its matching quarter. The report shows Nio’s cash position was down seriously to just $274.3 million.
But on June 30, 2019, Nio had $503 million in money and investments readily available. Which means Nio lost $228.7 million within the 3rd quarter.
Therefore the business cannot afford to carry on burning through such huge amounts of money.
Through the 3rd quarter, Nio burnt through $228.7 million. As well as the company probably burned through an identical quantity into the fourth quarter.