A deal can completely change the narrative for a company. This just might be the case for NIO (NIO), so says Morgan Stanley analyst Tim Hsiao.Back in April, the Chinese electric vehicle company inked a deal with the city of Hefei in which it secured a $1 billion investment from several state-owned companies in the city. As per the terms of the agreement, NIO set up its headquarters in Hefei. It should be noted that the company’s factory, which it operates along with Anhui Jianghuai Automobile Group, is already in Hefei.Weighing in on the implications, Hsiao stated, “Hefei government’s recent …read more
Source:: Yahoo Finance
