U.S.-listed NIO said it was in discussions with the government of Hefei around specific terms for a funding round which could raise more than 10 billion yuan ($1.4 billion).
Shares of Chinese electric carmaker NIO surged 30% in pre-market trade on Tuesday after it said it was in talks for funding and new factories with a city in China.The funding could raise more than 10 billion yuan for the company.
U.S.-listed NIO said it was in discussions with the government of Hefei. The city is a hub for automakers and the capital of Anhui province, which borders the province of Hubei where the new coronavirus reportedly began.
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