EV startup Nio joins Chinese auto industry's rush into insurance business

EV startup Nio joins Chinese auto industry's rush into insurance business

FILE PHOTO: A logo of the electric vehicle maker NIO is seen at its store in Beijing, China August 20, 2020. REUTERS/Tingshu Wang

Chinese electric vehicle startup Nio Inc. joined the ranks of automakers venturing into the insurance business, acquiring Huiding Insurance Broker Co Ltd last December, according to a business registration filing.