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flag NIO Inc. plans to raise over $1 billion by selling new shares, aiming to boost EV tech and finance.

flag NIO Inc., a Chinese electric vehicle company, plans to raise over $1 billion through selling 181.8 million new shares, priced at $5.57 per ADS. flag The funds will go towards R&D for smart EV technologies, new vehicle models, expanding battery swapping and charging networks, and bolstering its financial position. flag Despite the stock falling 9.87% after the announcement, NIO reported a 9% year-over-year revenue increase in the latest quarter.

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