Today’s tech news: EV startup NIO starts laying of its dozen employees

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NIO is laying off 62 workers from its Silicon Valley office in San Jose, California, as indicated by another documenting with the state’s Employment Development Department. It’s the Chinese organization’s second round of cuts in the US this year, as NIO laid off 70 workers and shut a San Francisco office back in May. NIO started 2019 with 640 workers in Silicon Valley, as per money related filings.

The new round of cuts are a piece of “a streamlining exertion,” as per NIO’s chief of North American interchanges, JoAnn Yamani. She likewise said they influenced “each division.” NIO’s essence in the US is fundamentally centered on R&D and building.

Established in 2014, NIO began shipping its first vehicle, the all-electric ES8 SUV, in China in 2018, and the organization conveyed more than 10,000 of them before a year ago’s over. NIO likewise turned into a traded on an open market organization on the New York Stock Exchange in September 2018, bringing $1 billion up in the posting.

In May, the organization inconclusively postponed a pending electric car only a month and a half after the idea rendition was declared. NIO likewise sold its Formula E group after the electric dashing arrangement wrapped up its fifth season in July. Only half a month later, one of the organization’s three prime supporters resigned.

For more updates, follow our today’s tech news listing.