China Electric Car Startup Nio raises over $1 Billion from Tencent, others

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Chinese electric vehicle startup Nio has raised more than $1 billion in its latest fundraising round, led by existing investor Tencent Holdings Ltd, valuing the firm at about $5 billion, two people with knowledge of the matter said. New investors in the round include U.S. hedge fund Lone Pine Capital, Chinese investment firm CITIC Capital and Scottish fund manager Baillie…