Reported 8 days ago
Nio's subsidiary has successfully obtained $471 million in new funding from government-backed investors in Hefei, which will support the development of new electric vehicle models. Alongside this investment, Nio plans to invest an additional $1.4 billion to maintain significant ownership in the subsidiary. This funding comes as Nio competes in the aggressive Chinese electric vehicle market, where it aims to enhance its product offerings and increase its market presence with the introduction of new models like the L60 SUV.
Source: YAHOO