Tesla challenger NIO in talks with carmaker GAC Group for new funding worth US$150 million

//Tesla challenger NIO in talks with carmaker GAC Group for new funding worth US$150 million

Tesla challenger NIO in talks with carmaker GAC Group for new funding worth US$150 million

Chinese carmaker Guangzhou Automobile Group Co (GAC Group) said on Thursday that it was in early talks with Tesla challenger NIO about a financing proposal, but any potential investment would not exceed US$150 million.US-listed NIO, which last month flagged an urgent need for more funding, said on Wednesday it was exploring financing and strategic opportunities with GAC Group.NIO did not specify the size of the potential funding, but earlier in the day Sina Finance and other media reported it…

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By | 2020-01-16T07:55:17+00:00 January 16th, 2020|Technology|Comments Off on Tesla challenger NIO in talks with carmaker GAC Group for new funding worth US$150 million