NIO Stock Alert: Nio Nabs a Tech Deal With Forseven

Nio (NYSE:NIO) licensed its technology to a unit of Abu Dhabi’s CYVN state investment vehicle. The deal with CYVN’s Forseven unit comes just months after the Gulf country’s $2.2 billion investment in the Chinese electric vehicle (EV) maker.Nio said it will get a fixed upfront license fee plus royalties based on future sales of licensed products by Forseven.The agreement sent Nio up 2.4% in overnight trading. It is expected to open today at $5.53 per share, a market capitalization of almost $12.5 billion.Sel ...