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China's Nio posts quarterly revenue below estimates

May 28 (Reuters) - Nio Inc reported quarterly revenue below Wall Street estimates on Thursday as the cash-strapped Chinese electric vehicle (EV) maker reeled under the impact of the COVID-19 pandemic on its vehicle sales, sending its shares down 7%.

The company’s total revenue was 1.37 billion yuan in the first quarter ended March 31, missing analysts’ average estimate of 1.67 billion yuan, according to IBES data from Refinitiv. (Reporting by Ayanti Bera in Bengaluru; Editing by Anil D’Silva)

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