NIO postpones its electric sedan after rough first quarter

Chinese EV startup NIO has indefinitely delayed its upcoming electric sedan just six weeks after unveiling a concept version of the car at the Shanghai Auto Show. The news comes as the startup released unaudited financial results for the first quarter of 2019, which show NIO lost $390 million as deliveries of its ES8 electric SUV dropped to 3,989 (down from 7,980 during the fourth quarter of 2018).
NIO had not previously set a ship date for the sedan, known as the ET7, but the company’s f