Nio, the electric vehicle manufacturer, reported a larger-than-expected net loss in the third quarter, highlighting challenges in China’s competitive EV market. The company posted a net loss of five point one four billion yuan, surpassing last year’s loss of four point six three billion yuan and exceeding analysts’ expectations. Revenue dropped slightly by two point one percent to eighteen point six seven billion yuan, falling short of projections due to lower selling prices amidst intensified competition. Despite these hurdles, Nio’s gross margins improved, indicating progress in mitigating some cost pressures. Moving forward, the company aims to deliver seventy two thousand to seventy five thousand vehicles in the fourth quarter, representing robust year-over-year growth.