Forbes: ‘Elon Musk Of China’ Regains Billionaire Status With 472% Stock Surge

Shares of China’s electric-car startup NIO rallied 472% since late May this year. The gains mark a dramatic comeback for a company that had earlier been struggling to boost sales. Teng Yong, partner of Oliver Wyman, said bullish market sentiment towards EV companies could pave the way for any new fundraising activities. “Last year, people were worrying that NIO didn’t have enough cash to last for another year,” Teng said. “Now, you can see from the capital markets that investors are optimistic for electric car companies.”

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