TECH - Nio Xpeng Take Twice As Long As Tesla To Pay Suppliers: What's Ailing Chinese EV Makers? | Benzinga
Chinese EV makers Nio Inc (NYSE:NIO) and Xpeng Inc (NYSE:XPEV) are reportedly taking over 200 days to pay their suppliers, more than twice their larger rival Tesla Inc (NASDAQ:TSLA).
What Happened: While Nio took around 295 days to clear its receipts as of the end of 2023, XPeng took 221 days, Bloomberg reported. The time taken has ballooned significantly from 2021 when Nio took 197 days and XPeng took 179.
Tesla, in comparison, took around 101 days, the report said, while adding that the time taken has remained mostly stable for ...