NIO is an automotive company that designs and develops electric autonomous vehicles.
NIO is a Chinese automobile manufacturer headquartered in Shanghai, specializing in designing and developing electric vehicles. The company is also involved in the FIA Formula E Championship, the first single-seater, all-electric racing series.
The increasing level of tension between authorities in China and the United States is forcing the hands of many US-listed Chinese companies to list on the Hong Kong stock exchange as a way of protecting themselves against both governments.
A 27% decline in sales within a month shows a decreasing demand for Tesla products in China amid increased competition from local electric vehicle companies.
BYD was set up in 2003 and caught American billionaire Warren Buffett’s eye in 2008. Through Berkshire Hathaway, he reportedly has a 25% stake in the Hong Kong-listed company.