Tesla rival NIO valued at $12 billion in two days of trading

Chinese electric-vehicle maker NIO's market value soared to almost $12 billion after its shares closed up 76% on their second day of trading. The Shanghai-based company, which billed itself as an emerging Tesla rival, raised $1 billion in a US offering. NIO sells only in China, although its technology and design teams are based in the US, UK, and Germany.