Electric Vehicle Manufacturers in China Slow Down Debt Payments to Suppliers

May 21, 2024, 11.33 AM

ILUSTRASI. Staff members work on an assembly line manufacturing Zeekr X trial production models, at the Geely's plant in Chengdu, Sichuan province, China April 13, 2023. REUTERS/Zoey Zhang

Reporter: Dikky Setiawan | Editor: Syamsul Azhar

ELECTRIC VEHICLE - JAKARTA. GUANGZHOU. The ability of several Chinese electric vehicle (EV) manufacturers to pay their debts to parts suppliers is dwindling, with Nio Inc. serving as a prime example.

According to a report by Bloomberg on Monday (20/5), Nio's time to pay off its debts to EV parts suppliers reached 295 days in 2023, a significant increase from the 197 days it took in 2021.

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