Nio shares up 14% after new investment of nearly $1bn
The Chinese electric vehicle maker says the money will smooth its cash flow and guarantee future product developments
29 April 2020 - 18:00
Beijing — Nio’s shares jumped more than 14% on Wednesday after it said it had secured a 7-billion yuan ($989m) investment in Nio China, a new entity controlled by the Chinese electric vehicle (EV) maker.
The new investment will smooth its cash flow and guarantee future product developments, CEO William Li told a news conference, adding it will not affect its existing partnerships with Changan and GAC, or the ownership structure of its New York-listed company...
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