Nio

China’s EV startups face an intense competition between each other and traditional automakers, while Tesla’s entrance has upped the standard.

Aulton allows electric vehicle owners to change their out-of-power batteries for full-capacity ones in three minutes.

Investors will inject in total USD 990 million into Nio China in five installments.

The cash-craving EV startup rebounded strongly from the pandemic’s impact, setting a monthly record for electric vehicles sold in May.

China and India markets stalled by government policy U-turns.

Strong US and Asian investors’ demand for its first new share sale since listing in New York comes even as Nio says it will not pay dividends any time soon.

Existing investor Tencent will secure 2.8% of Nio’s ADS for about USD 10 million.

The firm expects to break its quarterly record for vehicles delivered in the second quarter.