Electric Vehicle Manufacturers in China Slow Down Debt Payments to Suppliers

May 21, 2024, 11.33 AM  | Reporter: Dikky Setiawan
Electric Vehicle Manufacturers in China Slow Down Debt Payments to Suppliers

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

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.

Thanks for reading Kontan English.
Please create account or log in.

Only Rp5,000 to continue reading.

BUY NOW!
Editor: Syamsul Azhar
Latest News