China's cash-strapped EV maker Nio in talks with Hefei on funding

China's cash-strapped EV maker Nio in talks with Hefei on funding

Shanghai, China. Photo: Sean Sheng/pixabay

Chinese cash-strapped electric vehicle (EV) maker Nio Inc said it had signed framework agreements with Hefei‘s city government on a fundraising of more than 10 billion yuan ($1.42 billion) and new manufacturing facilities.