NIO Stock: Nio Raises $417 Million in New Tech Fund

This week isn’t off to a great start for Nio (NYSE:NIO) stock, but the Chinese electric vehicle (EV) maker could have a positive catalyst on the horizon. Nio Capital, the investment firm that boasts Nio founder Li Bin as a partner, has secured a new influx of yuan. This new yuan-denominated fund exceeds 3 billion yuan, equating to roughly $416.8 million.Reuters reports that these new funds are earmarked to “invest in technologies in new energy vehicles, energy transition and smart manufacturing industries.” ...