GUANGZHOU -- Chinese startup NIO has raised about $2.2 billion from Tencent Holdings and more than 50 other investors as these companies put their heads together to develop information technologies for "smart" electric cars.
NIO was founded in 2014 and is aiming to sell its first mass-produced offering, the ES8 sports utility vehicle, this year. The company is building its first factory in Shanghai and already has a team of 5,000 engineers at its research center.
