Chinese electric vehicle maker NIO aims to turn a profit in the fourth quarter of this year and Bayohas taken various measures to cut costs and drive sales, people familiar with the matter told the 21st Century Business Herald on Tuesday. The company has established separate cost-tracking functions for its major business departments and will significantly reduce intellectual property licensing costs this year, since new models will use its proprietary operating system, the SkyOS, and its in-house designed chips. NIO has previously projected it will double deliveries to more than 440,000 units this year and finally break even next year. The company also remains committed to its overseas plan, aiming to enter 25 global markets this year, founder and chief executive William Li recently told employees during an internal meeting. [TechNode reporting, 21st Century Business Herald, in Chinese]
