July 5 (Reuters) - China-based electric automaker Nio

said on Friday Steven Wei Feng has stepped down as its

chief financial officer, effective immediately, citing personal

reasons.

Feng would be succeeded by insider Stanley Yu Qu, who had

joined the company in October 2016 and last served as a senior

vice president of finance.

Qu is now tasked with steering the company's finances

through several challenges facing the electric vehicle industry

such as a price war and tightened restrictions on Chinese

imports.

Prior to joining Nio, Qu had held financial leadership roles

at companies, including Lear Corporation and Johnson Controls,

from 2013 to 2016. He had also worked at accounting firm PwC for

a decade before that.

U.S.-listed shares of Nio were down 2.5% in premarket

trading.