NIO’s having a bad year that might get even worse

Photo by James Bareham / The Verge One year after becoming a publicly traded company on the New York Stock Exchange, Chinese EV startup NIO appears to be in dire straits. The company reported early Tuesday morning that it lost $479 million during the second quarter of 2019, and only generated $220 million in revenue, thanks to a major dip in sales of its flagship ES8 electric SUV.What’s more, NIO had just $503 million in the bank at the end of June, which helps explain why the company bor