BEIJING, November 3 (TMTPost)— Nio Inc has to resort downsizing in face of stiff competition even though the Chinese electric vehicle maker has claimed it would not cut workforce whiling improving efficiency. Credit：Visual China Nio will lay off 10% of employees and the related personal adjustments will complete this month, the Chairman and CEO William Li, or Li Bin, said in a letter to staff on Friday. The coming two years will be the most competitive period during an ongoing transition of the auto industry, and the broader environment is filled with elevated uncertainties, Li noted at the beginning of the letter. The 49-year co-founder admitted Nio has obtained more than 40% share in the battery electric vehicle market priced RMB300,000 above, following five new models delivered this yea