(Reuters) Chinese electric vehicle startup Nio has raised more than $1 billion in its latest fundraising round, led by existing investor Tencent Holdings Ltd, valuing the firm at about $5 billion, two people with knowledge of the matter said.
New investors in the round include U.S. hedge fund Lone Pine Capital, Chinese investment firm CITIC Capital and Scottish fund manager Baillie Gifford, said one of the people.
China Electric Car Startup Nio Raises Over $1bn From Tencent, Others
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