Tesla's top investor Baillie Gifford takes 11% stake in rival NIO

Tesla's top investor Baillie Gifford takes 11% stake in rival NIO

A NIO Eve autonomous concept electric car. Photographer: Qilai Shen/Bloomberg

The largest investor in c. after Elon Musk has taken an 11.4 percent stake in a Chinese company aspiring to become an electric vehicle-making rival.

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