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NIO Inc. plans to raise over $1 billion by selling new shares, aiming to boost EV tech and finance.
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.
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.
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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NIO Inc. planea recaudar más de $ 1 mil millones vendiendo nuevas acciones, con el objetivo de impulsar la tecnología y las finanzas de EV.