Replies to post #12219 on Short Term Pinch (STP)

[BottomBounce]

$NIO China’s Nio Inc will form a joint venture with Beijing E-Town International Investment and Development Co. Ltd which will invest 10 billion yuan ($1.45 billion) in the new entity, the electric vehicle (EV) maker said in a statement on Tuesday.

E-Town Capital will support a new manufacturing facility for Nio’s next-generation platform 2.0 (NP2) vehicles, it said, adding the parties are continuing to work towards a final binding definitive agreement on the investment.