Nio shares surge after it secures $1 billion investment
BEIJING (Reuters) – Nio Inc’s shares jumped more than 14% on Wednesday after it said it had secured a 7 billion yuan ($989 million) investment in Nio China, a new entity controlled by the Chinese electric vehicle maker.
FILE PHOTO: NIO ES8 electric SUVs are seen displayed at the second media day for the Shanghai auto show in Shanghai, China April 17, 2019. REUTERS/Aly Song
The new investment will will smooth its cash flow and guarantee future product developments, Chief Executive William Li told a news conference, adding it will not impact its existing partnerships with Changan…