Hyperdrive
China’s Nio Considering Raising $3 Billion From Investors
- Unprofitable EV maker has approached investors in Middle East
- Company says it ‘has no reportable capital-raising activity’
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Nio Inc. is considering raising around $3 billion from investors, according to people familiar with the matter, as questions swirl around the Chinese electric-car maker’s health amid mounting losses.
Shanghai-based Nio has approached investors from the Middle East, the people said, asking not to be identified discussing matters that are private. The fundraising could happen as soon as next year, one of the people said.