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Nio forms new China unit with nearly $1B investment, lifeline

A Nio ES6 inside a showroom in Shanghai on April 6. (BLOOMBERG)
R
By:
Reuters
April 30, 2020 05:27 PM

BEIJING – Troubled Nio Inc. said it secured a 7 billion yuan ($989 million) investment in Nio China, a new entity controlled by the Chinese electric vehicle maker.

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