Nio soars to new heights after setting up credit facility
Jul. 10, 2020 8:11 AM ETNIO Inc. (NIO)NIOBy: Clark Schultz, SA News Editor49 Comments
- Nio (NYSE:NIO) is up another 9.33% in premarket trading after the electric vehicle manufacturer landed a $1.5B credit line in China.
- A strong sales report from Nio helped to clear the way for the credit facility. The participating banks are China Construction Bank, ICBC, Bank of China, Agricultural Bank of China, Industrial Bank and China Merchants Bank, according to Bloomberg.
- Shares of Nio have been on a rocket ride that doesn't show signs yet of fizzling out.