Tencent-backed EV maker NIO blocks 8 banks from working for rivals

Tencent-backed EV maker NIO blocks 8 banks from working for rivals

Image of Nio EP9 from the company's website

Chinese electric vehicle (EV) maker NIO Inc has blocked the eight top investment banks that did its IPO from working for rivals by tying them up in rare year-long non-compete clauses, several people with direct knowledge of the matter said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter