Nio Soars 12%, Leading Chinese EV Stocks Higher In Monday's Premarket: What's Driving The Surge?

Quick Summary:

Shanghai, China-based Nio announced Sunday that strategic investors, including Hefei Jianheng New Energy Automobile Investment Fund Partnership, Anhui Provincial Emerging Industry Investment Co., Ltd. and CS Capital Co., Ltd., have agreed to invest an aggregate of 3.3 billion yuan ($470.64 million) in cash in its subsidiary Nio China.

Nio has concurrently agreed to invest 10 billion yuan (about $1.43 billion) in cash to subscribe to the newly issued shares of Nio China. 

The strategic investors and Nio ...

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Article Details

Author / Journalist: Shanthi Rexaline

Category: Technology

Markets: United StatesChina

Topics: XPEV LI News Why it's moving Benzinga Mobility Markets Electric vehicles Tech NIO Stories That Matter Equities EVs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-30 @ 09:03:06 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 368 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 22785999

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