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Nio Raises $700M-Plus from Investors in Abu Dhabi

Nio Inc. (NYSE: NIO), an electric vehicle company in China, made a recent announcement that CYVN, a fund controlled by the government of Abu Dhabi, has invested $738.5 million in the company in an effort to improve the financial position of Nio amid a period of fierce price competition in the market, which has caused price-conscious investors to switch to less expensive versions.

Nio, along with Li Auto and Xpeng, are some of the companies attempting to seize a greater market for electric vehicles in the…

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