Nio Inc. Chairman William Li instructed staff that the cash-strapped electrical carmaker can pay January salaries six days late due to difficulties stemming from the outbreak of the novel coronavirus.
Funds will likely be made Feb. 14 as a substitute of Feb. 8, based on a message from Li to staff that was seen by Bloomberg and confirmed by an organization consultant.
Li additionally inspired staff to commerce of their upcoming bonus for restricted inventory models, although the consultant highlighted that might be voluntary.
Nio posted losses of greater than $300 million within the quarter ended September — the newest interval for which the corporate’s financials can be found.
The corporate mentioned late final yr it didn’t manage to pay for to proceed working one other 12 months until it raises extra funds, and is in talks to safe extra funding.