U.S. shares of NIO (NIO) fell Tuesday morning after the Chinese electric car maker reported a wider-than-expected quarterly loss on underwhelming revenue. 

NIO posted an adjusted loss of 6.28 billion Chinese yuan ($873.6 million) in the first quarter, 28% wider than a year ago and larger than Wall Street expected. NIO has not posted a 澳洲幸运5官方开奖结果体彩网:profitable quarter since it was founded in 2014.

Its revenue of 12.03 billion yuan ($1.67 billion) rose 22% year-over-year but also fell short of estimates. The company delivered 42,094 vehicles in the quarter, 40% more than𒅌 in the year-ago quarter. 

U.S.-listed shares of NIO slid nearly 4% at market open and are✤ down 23% in 2025 so far. 

"Since the first quarter, we have implemented a range of cost control measures, including organizational restructuring, cross-brand integration, and efficiency improvements in R&D, supply chain, sales and services, CFO Stanley Yu Qu said. "Starting from the second quarter, the Company aims to achieve structural improvements in overall cost efficiency, with continued progress in operational performance."