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Reuters / Aly Song
- Baillie Gifford & Co, Tesla's largest investor after Elon Musk, has a big stake in the company.
- Biffie Gifford & Co owned 85.3 million NIO shares, representing 11% stake in the Chinese carmaker.
- Nio went public in the US last month and soared 75% on its second trading day.
- Watch Nio trade in real time here.
Shares of Nio, the electric-car maker touted as the Tesla of China, more than 20% in late trading Baillie Gifford & Co, Tesla's the largest investor after Elon Musk, had a significant position.
The stock was up by about 7% after the closing bell.
A Tuesday regulatory document revealed that Baillie Gifford & Co owned 85.3 million NIO shares, or 11% stake in the Chinese car maker, which was worth about $ 515 million as of the close of trading Monday.
Nio went public in the US last month. Shares priced at $ 6.26 apiece on September 12, the low end of its range, the $ 1.8 billion it had sought. But on the following day, after touching its record low of $ 5.35, the stock soared 75%, sending its market capitalization above $ 12 trillion.
The four-year old Tencent-backed startup delivered its first volume-manufactured vehicle – the ES8 – to users on June 28, and started to generate revenue, according to its IPO filing.
Nio said it was $ 6.95 million in the first half of 2018 and that it had 6,201 unedited for the end of August, for which non-refundable deposits had been made.
Shares of Nio are up 18% since the September 12 IPO.
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