Tesla can't avoid EU probe; Nio cries fake news: This week in EVs
Investing.com -- Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Nio denies reports of fundraising effort; and Tesla finds itself subject to EU probe.Bloomberg reported that Nio was contemplating raising an additional $3B from investors, with a particular focus on Middle Eastern backers.
Despite these challenges, Nio remains a prominent player in the EV industry and continues to expand its product offerings, for example in recently introducing its own branded smartphone capable of synchronizing with its vehicles. Tesla, which exports vehicles from its Shanghai gigafactory to Europe, may face consequences from the investigation. However, the recent opening of its Berlin facility could help offset potential reductions in exports.In a separate legal development, Tesla is currently involved in a trial in California involving its FSD autopilot technology. The trial stems from a fatal 2019 accident involving a Model 3 and alleges that Tesla's Autopilot system was defective and contributed to the crash.
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