NIO makes major personnel adjustments

On April 2, NIO announced a major personnel adjustment. Former CFO Qu Yu also served as the head of NIO Power, and the former head Shen Fei took over Ledao sales. Li Bin will directly manage Ledao's R&D, supply chain and quality departments; Qin Lihong will be responsible for Ledao's marketing system. Due to the poor sales of Ledao, Ai Tiecheng was forced to resign and Shen Fei took over this important task.