Nio Raises $700M-Plus from Investors in Abu Dhabi
Nio Inc. , an electric vehicle company in China, made a recent announcement that CYVN, a fund controlled by the government of Abu Dhabi, has invested $738.5 million in the company in an effort to improve the financial position of Nio amid a period of fierce price competition in the market, which has caused price-conscious investors to switch to less expensive versions.Nio, along with Li Auto and Xpeng, are some of the companies attempting to seize a greater market for electric vehicles in the…To receive SMS text alerts from Green Car Stocks, text “Green” to 844-397-5787