The Tencent, Baidu, Lenovo and JD.com-backed electric carmaker floated near the foot of its range at a reported $6.4bn valuation.

Nio, the China-based smart electric car developer that counts domestic corporates Tencent, Baidu, Temasek and JD.com as investors, raised approximately $1bn when it floated on the New York Stock Exchange this week.The Tencent, Baidu, Temasek and JD.com-backed electric carmaker floated near the foot of its range at a reported $6.4bn valuation. The initial public offering…

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