Nio, China rival to Tesla, says U.S. head to step down (TSLA)

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The U.S. head of Nio Inc, an electric carmaker seen as one of the main Chinese rivals to Tesla Inc, will leave the company, the firm said in a filing on Friday, the first major management departure since its September IPO. Padmasree Warrior, chief executive officer of NIO USA and global chief development officer, will resign from her posts on Dec. 17 for “personal interests”, the company said. Warrior joined Nio, previously called NextEV, in 2015, and led the company along with founder and CEO William Li to become one of China’s most legitimate challengers in the global race to develop electric vehicles.

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