Chinese Electric Automaker Nio Hit by Ransomware Attack

December 22, 2022

China-based Nio Inc. said on Tuesday that hackers had breached its computer systems and accessed data on users and vehicle sales, in the latest hacking incident to hit the global auto industry.

The hackers had sent an email to the electric carmaker demanding $2.25 million worth of bitcoin and claiming that they had its internal data, according to media reports.

The company said it was working with government authorities to investigate the data breach.

Nio did not immediately respond to a Reuters request for comment.

U.S.-listed shares of Nio were up nearly 3% in early trading, recovering from premarket losses after it acknowledged the data breach.

The auto industry has been forced to spend billions of dollars to strengthen its data protection systems as it deals with a wave of cyberattacks.

Earlier in November, German tire and automotive parts maker Continental said that a cyberattack it reported in August had resulted in some data being stolen from the company.

The cyberattack on Nio also comes as the Chinese government pushes automakers to bolster data protection and store locally generated key data in the country.

(Reporting by Tiyashi Datta in Bengaluru; editing by Anil D’Silva)

Topics Cyber China

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