NIO Raises A Billion to Build Tesla Beaters
As once would-be Tesla competitor Faraday Future continues to steadily implode, another Chinese rival, NIO (formerly NextEV) is having better luck with its efforts to bring its futuristic electric cars to market, which include a mouthwatering supercar dubbed the EP9, pictured above.
According to reports, the company's latest round of investors include U.S. hedge fund Lone Pine Capital, Chinese investment firm CITIC Capital and Scottish fund manager Baillie Gifford. Tencents, itself, was recently valued at $475 billion. Earlier investors include Hillhouse Capital Group and Sequoia Capital.
Presumably this latest round of capital will help fund continued research and development, in particular its quest to offer a Level 4 autonomous car by 2020. It's already partnered with China’s fourth-largest automaker Chongqing Changan Automobile to produce and sell electric cars.
Below are two other concept EVs that NIO's rolled out for the press in the last two years: the somewhat traditional-looking ES8 crossover SUV and the very futuristic EVE (second image below).
Be sure to follow EV World on Twitter at @EVWORLDEDITOR.
|<< PREVIOUS||NEXT >>|
blog comments powered by Disqus