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Caixin

For electric-vehicle maker Nio, government tie-up has its benefits

Automaker gets $1.4bn credit line from Anhui province-based banks

New York-listed Nio, which lost about $1.6 billion in 2019, said in March it may not have enough liquidity to survive another 12 months.   © Reuters

Chinese electric-car maker Nio Inc. said it had secured credit lines worth 10.4 billion yuan ($1.48 billion) from six domestic banks, just months after inking a cooperation deal with a city government, as the company hunts for funding amid concerns of tightening liquidity.

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