Chinese electric vehicle (EV) builder Nio will receive US$738.5 million in fresh capital injection from an Abu Dhabi government-backed firm CYVN Holdings as the company beefs up its balance sheet at a time of a bruising price war in the industry which has seen price-sensitive investors migrating to cheaper models. The first time investor CYVN will buy 84.7 million newly-issued shares in the company at US$8.72 apiece, representing a 6.7 per cent discount to its closing price on the New York Stock
EVs gain as China extends tax breaks streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Nio (NIO) Q1 2023 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Operator: Hello ladies and gentlemen. Thank you for standing by for the first quarter 2023 earnings conference call for XPeng Inc. At this time, all participants are in listen-only mode.