NIO's affiliate takes stake in chip firm

2021-07-19

$NIO Inc.(NIO)$ NIO's affiliate takes stake in chip firm July 19, 2021 The focus on chip companies for carmakers has never been stronger, and an affiliate of NIO has taken a stake in a chip company, further expanding its circle of friends in the field. Shanghai-listed AI chip company Cambricon said in an announcement Friday that it has agreed to increase the registered capital of its wholly-owned subsidiary Cambricon Xingge by RMB 170 million ($26 million) and bring in investors.$NIO Inc.(NIO)$

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