Nio plans up to $2b US share sale to compete in China's EV race

Nio plans up to $2b US share sale to compete in China's EV race

Photo: Nio Norway website

Chinese electric vehicle maker Nio announced a plan to sell up to $2 billion worth of new equity in the U.S. on Wednesday, leading to the sharpest dip in the price of its New York-listed shares since a fatal crash involving the company’s self-driving system was reported in August.