China EV firm Nio becomes a cornerstone investor in CXMT
NIO•Correction note
Corrects story to say the cited media report only says NIO is investing in CXMT's IPO, not signing deal to procure DRAM chips.
Nio invests in CXMT ahead of IPO
Chinese electric-vehicle maker Nio has become a cornerstone investor in ChangXin Memory Technologies (CXMT), China's largest DRAM chipmaker, ahead of the latter firm's initial public offering.
Nio invested 158 million yuan ($23.34 million) in CXMT, according to a stock filing from CXMT.
