Nio's stock fell Wednesday amid concerns about the European Union's investigation into government subsidies that China-based electric vehicle makers receive.
Shares of Nio Inc. were knocked lower Wednesday, as investors expressed concerns about the European Union’s investigation into government subsidies that China-based electric vehicle makers receive.
Meanwhile, shares of Tesla Inc. TSLA, -2.23% gained 1.1% ahead of the open. Tesla has cut prices more than once this year to fend off competition. “As we do not accept this distortion from the inside in our market, we do not accept this from the outside,” von der Leyen said, per the AP. “So, I can announce today that the commission is launching an anti-subsidy investigation into electric vehicles coming from China.”
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