Nio has lost $835 million in Q2, a report by the New York Times estimates, which is around $35,000 per shipped car. Nio shipped around 8,000 EVs in that time. The report cites China’s government’s “formidable” financial backing of its car companies as the reason they’re as competitive, since they don’t need to worry about profitability. The European Union suspected as much and launched a probe into the matter. Should the EU conclude that the Chinese government is subsidizing its EV makers, it could impose a tariff to level the playground and protect its own auto industry. When… More…