Industry

After the announcement of an additional ADS offering, NIO shares have been trading lower for the past two days in a row. But in Deutsche Bank's view, this is not something to fear.

Baidu has opened preliminary talks with Geely, Guangzhou Automobile Group, and FAW Group's Hongqi, but no decision has been made, the report said.

The car was said to be a convertible electric model with a pre-order price of RMB 84,999 yuan.

As of late September, the cumulative number of terminal connections for 5G users in China had exceeded 100 million.

The price target represents a 31 percent upside potential to the Chinese electric car company's Friday closing price of $44.31.

Alibaba was fined because of its investment in the acquisition of Intime Retail's equity interest.

BOE did not specify whether all of these technologies are used in NIO's cockpit but mentioned that it and NIO have continued to work together in recent years to create an interactive, warm, and user-friendly intelligent cockpit.

Shares of Chinese EV maker NIO fell 6 percent to $39.46 in pre-market trading after pricing its additional ADS offering at a discount of about 7 percent to Friday's close.

NIO sold 68 million ADSs, up from the 60 million initially planned, to raise $2.65 billion, the report said. Such offerings are typically priced at a discount to entice investors. 

Chinese EV startup Leap Motor has acquired Fujian New Forta Automobile Industry Co., Ltd. in a move that the industry believes is intended to solve its production qualification issue.