Nio (NIO) launches smartphone for use with company EVs

Nio (NIO) denies reports of $3B fundraising effort

September 25, 2023 9:46 AM EDT

Chinese electric vehicle maker, Nio Inc. (NYSE: NIO) released a statement Monday denying reports that the automaker is considering raising $3B in capital from investors.

The report, originally submitted by Bloomberg, cites unnamed sources familiar with the matter and claims the company has... More

Nio (NIO) plunges on report it may need to raise additional $3B from investors

September 25, 2023 7:40 AM EDT

Chinese electric vehicle maker, Nio Inc. (NYSE: NIO) fell nearly 7% in pre-market trading Monday morning following reports that the automaker is considering raising an additional $3 billion from investors.

Bloomberg reports, citing unnamed sources familiar with the matter, that the automaker has approached middle eastern investors concerning the fundraising. The sources... More

Nio (NIO) CEO calls for open minds as EU launches subsidy probe

September 21, 2023 2:38 PM EDT

William Li, the head of Chinese electric vehicle manufacturer, Nio (NYSE: NIO) expressed a desire for governments worldwide to adopt a more open-minded approach rather than isolating themselves. This statement followed the European Commission's initiation of an anti-subsidy investigation into electric vehicles produced in China... More

Barclays cautious on Nio (NIO) as $1B CB raise highlights liquidity needs

September 21, 2023 8:39 AM EDT

Barclay reiterated an Equal Weight rating on Nio Inc. (NYSE: NIO) with a 12-month price target of $8.00 on the stock after the Chinese electric vehicle maker raised $1b in convertible bonds (CB) to repay $720m in previously issued CBs that are either due or puttable in early 2024.

NIO is facing an upcoming... More

China's Nio calls for 'open attitude' amid EU subsidy probe

September 21, 2023 6:37 AM EDT

SHANGHAI (Reuters) - The head of Chinese electric vehicle maker Nio said on Thursday he hoped all governments could have an open attitude rather than be isolationist, after the European Commission launched an anti-subsidy probe into Chinese-made EVs last week.

William Li made the comments at a media roundtable after the launch of Nio's first smartphone.

He said lessons to be learnt from China's new energy vehicle (NEV) development were to be open and welcome competition to benefit users and global sustainable development.

"As a public company... More

Recent $1 billion CB raise unlikely to be enough - Barclays on Nio

September 21, 2023 6:08 AM EDT

Barclays analyst Jiong Shao reiterated an Equalweight rating and $8.00 price target on NIO (NYSE: NIO).

The analyst commented: "We have highlighted our concerns around NIOs liquidity in the past, and we consider this recent $1bn CB raise unlikely to be... More

China's Nio launches smartphone developed to use with its electric cars

September 20, 2023 11:52 PM EDT

SHANGHAI (Reuters) -China's Nio Inc on Thursday unveiled a high-end smartphone designed to be used with its electric vehicles, touting a plethora of related functions such as using the phone to instruct the car to park itself.

The launch of the Nio Phone - the first car-specific phone to be sold by a Chinese firm, highlights the advanced state of EV technologies in the world's biggest auto market, where electric cars now account for more than a third of vehicle sales.

A Nio driver can also use the phone to notify their car to drive itself to their... More

NIO Inc. (NIO) Prices $1B Convertible Notes Offering

September 20, 2023 5:36 AM EDT

NIO Inc. (NYSE: NIO), a pioneer and a leading company in the premium smart electric vehicle market, today announced the pricing of US$500 million in aggregate principal amount of convertible senior notes due 2029 (the 2029 Notes) and US$500 million in aggregate principal amount of convertible senior notes due 2030 (the 2030 Notes, and, together with the 2029 Notes, the Notes) (the Notes Offering). The Notes have been offered to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act of 1933, as amended (the Securities Act). In addition, the Company... More