GAC Says in Talks With Cash-Strapped NIO After Stock Surge [Yahoo! Finance News]
NIO Inc. American depositary shares, each representing one Class A ordinary share (NIO)
Last nio inc. american depositary shares, each representing one class a ordinary share earnings: 3/18 07:30 am
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Source: Yahoo! Finance News
) -- Guangzhou Automobile Group Co. confirmed it is in talks with NIO Inc. about an investment in the cash-strapped Chinese electric-vehicle maker. GAC, its units and external parties could invest as much as $150 million in NIO, the automaker said in a statement to the Shanghai stock exchange Thursday. Plans are preliminary and no agreement has been reached, it said, echoing a NIO statement that said the two have explored financial and strategic opportunities. NIO’s shares surged as much as 19% Wednesday following a Sina report that said GAC was preparing to invest up to $1 billion in the maker of ES6 and ES8 plug-in sport utility vehicles. GAC denied the report, saying there was “great uncertainty on whether any agreement will be reached.” NIO has been hit by weakness in China’s overall auto market, cost overruns and recalls. The Shanghai-based company said late last year it was making significant progress toward raising more funds, but it also warned it didn’t have enough money to
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NIO
News
- Here's Why NIO Inc. (NIO) Gained But Lagged the Market Today [Yahoo! Finance]Yahoo! Finance
- VW, BMW Out to Prove They're Not a Spent Force at China Car Show [BNN Bloomberg (Canada)]BNN Bloomberg
- NIO: In Search Of A Bottom [Seeking Alpha]Seeking Alpha
- Xiaomi's Success Means More Trouble for Battered China EV Stocks [BNN Bloomberg (Canada)]BNN Bloomberg
- Nio Inc - (NYSE: NIO) had its "neutral" rating re-affirmed by analysts at Macquarie. They now have a $5.00 price target on the stock.MarketBeat
NIO
Earnings
- 3/5/24 - Beat
NIO
Sec Filings
- 4/9/24 - Form 6-K
- 4/9/24 - Form 20-F
- 4/4/24 - Form SC
- NIO's page on the SEC website