SAN JOSE — Nio USA has decided to eliminate more than 60 jobs in San Jose, the struggling maker of electric vehicles disclosed in an official filing with state labor officials.

China-based Nio, which has a big north San Jose operation, has suffered a steady erosion in its stock price since it went public in September 2018.

Nio USA has decided to eliminate 62 jobs in San Jose, a filing with the state’s Employment Development Department showed.

When the company went public roughly a year ago, Nio USA priced its shares at $6.26, and the shares quickly more than doubled.

Since that time, however, Nio’s shares have plunged. Nio USA is down 49 percent from the IPO price and has plummeted by a jaw-dropping 77 percent from the intraday all-time high of $13.80.

Steady losses appear to be the problem. For 2018, Nio reported a net loss of $1.4 billion on revenue of $720.1 million, according to a regulatory filing with the Securities and Exchange Commission.

During the first quarter of 2019 that ended in March, Nio lost $390.9 million, which was 71 percent more red ink than the same three-month period of 2018. First-quarter revenue totaled $243.1 million, a 52 percent decline from the similar first-quarter period in 2018, the SEC filing showed.

In July 2018, Nio doubled the size of its north San Jose presence and agreed to occupy two big office buildings on North First Street near Montague Expressway. One building is at 3200 N. First St. and the other is at 3100 N. First St.

Nio has been delivering multiple versions of its electric vehicle for about a year.

Revenue from vehicle sales totaled $228 million during the January-through-March first quarter of 2019, which represented a decline of 54.6 percent from the October-through-December fourth quarter of 2018, the SEC filing showed.

Vehicle deliveries have slumped because of a recall of the electric batteries in an SUV version of the Nio cars, according to an SEC filing that was posted on Aug. 12.

“We expect August to be a much stronger month, and target to deliver between 2,000 and 2,500 vehicles,” William Li, Nio’s chief executive officer stated in the SEC filing in mid-August.