Shanghai-based Nio Inc. has approached investors from the Middle East as it considers raising around $3B from investors amid mounting losses, people familiar with the matter told Bloomberg News. The Chinese electric carmaker’s fundraising could happen as soon as next year, one of the people said, though current talks are ongoing, details are subject to change, and there is no certainty Nio will proceed with the fundraising, the sources said, according to the report. In pre-market trading in New York, Nio shares have fallen 48c, or 6%, to $8.05.
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