Nio Inc., a Chinese electric vehicle manufacturer, has announced plans to raise approximately HK$4.03 billion (around $518 million) through a share placement. This capital raise, aimed at funding the development of its smart electric vehicles, has resulted in a dilution of shareholder value by 6.2%. The company’s CEO, William Li, acknowledged the pressure to reduce costs and enhance operational efficiency despite the fundraising success. Following the announcement, Nio's shares experienced a decline, reflecting investor concerns about the impact of the discounted stock sale on the company's financial health.