Chinese electric carmaker Nio raises $2.2 bn
Chinese electric carmaker Nio said on Monday it had raised $2.2 billion that will see Emirati investment company CYVN increase its stake in the firm to 20.1 percent. The investment for Nio, one of US-based Tesla's rivals in China, comes as the Shanghai-founded business remains largely loss-making. Financed by Chinese internet giant Tencent in its early days after its founding in 2014, Ni