NIO Rejects Pentagon Designation as 'Chinese Military Company'
MT Newswires Live
Jun 09
NIO (NIO) pushed back Tuesday against the US Department of Defense's addition of the company to a list of Chinese military companies.
The company said it believes its inclusion on the list is "not justified as it is not a Chinese military company or a military-civil fusion contributor to the Chinese defense industrial base."
Being placed on the list does not exclude it from US government procurement contracts or from trading in the company's securities, it said.
The electric vehicle maker "will proactively engage" with the Pentagon to remove itself from the list and consider "legal actions," it said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.