Chinese electric-vehicle startup Nio, Inc. (NYSE:NIO) on Sunday announced that it has received cash infusion at a time the company has making a heavy push into the low-end of the market with its Onvo brand of vehicles. What Happened: Shanghai-based Nio said strategic investors, including Hefei Jianheng New Energy Automobile Investment Fund Partnership, Anhui Provincial Emerging Industry Investment Co., Ltd. and CS Capital Co., Ltd., have agreed to invest an aggregate of 3.3 billion yuan ($470.64 million) in cash in its subsidiary Nio China. The investment is in lieu of an equity stake in the c…
