On November 3rd, Li Bin, Chairman and CEO of NIO Automobile, issued a letter to all NIO employees, confirming that NIO will reduce positions by about 10% to ensure organizational efficiency improvement. The letter confirmed that NIO will reduce positions by about 10%, and the specific adjustments will be completed in November. Li Bin also stated in the letter that the company will ensure long-term investment in core key technologies and maintain leading advantages in technology and products; Ensure sales and service capabilities are able to cope with fierce market competition; Ensure the timely launch of 9 core products from 3 brands. On this basis, merge duplicate departments and positions, transform inefficient internal workflow and division of labor, and eliminate inefficient positions; Resource efficiency improvement, delaying and reducing project investments that cannot improve the company's financial performance within 3 years.