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.
Evergrande’s auto arm said its electric vehicle suppliers were experiencing some delays. In addition, the unit also revealed that it suspended some projects across the group, and is looking for new investors.
Xiaomi has deliberately moved to beef up its research and development in the new space with its purchase of an autonomous driving technology startup Deepmotion for over $77 million.
