Nio’s self-driving electric concept car, the Nio Eve, on display ahead of the Shanghai auto show in April, 2019. Photo: Reuters

Struggling Chinese electric carmaker Nio seeks US$344 million through sale of new American depositary shares

  • The New York-listed electric vehicle maker will offer 60 million new shares, as coronavirus and increased competition heighten fundraising needs
  • Fundraising comes just two months after new strategic investors agreed to inject 7 billion yuan of cash into the business
Topic |   Electric cars
Nio’s self-driving electric concept car, the Nio Eve, on display ahead of the Shanghai auto show in April, 2019. Photo: Reuters
READ FULL ARTICLE