Nio offers up 136.8 million new shares to fund R&D
In a move apparently intended to ease the burden of its hefty ongoing research and development costs, Chinese electric vehicle (EV) brand Nio has announced it will issue 136.8 million new Class A ordinary shares. The automaker has indicated that funds from the new equity placement will be used to develop new EV technologies and products.
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Originally posted on: https://www.automotiveworld.com/news/nio-offers-up-136-8-million-new-shares-to-fund-rd/