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NIO (Chinese: 蔚来; pinyin: Wèilái) 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.

Formerly known as NextEV, Nio has raised a substantial amount of money in its latest round of fundraising. The Chinese startup reportedly received a stunning $1 billion in funding, with Chinese investment powerhouse Tencent leading the charge. Notably, Tencent also holds a stake in Silicon Valley automaker Tesla. 


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