Chinese electric carmaker NIO slumps in U.S. debut


(Reuters) - Shares of Chinese electric carmaker NIO Inc fell as much as 15 percent in their market debut, a day after its public offering was priced at the lower end of an expected range, weighed down by investor worries about the prospects of chief rival Tesla Inc.NIO's shares opened at $6 and dropped to a low of $5.35, giving the company a market capitalization of $5.

52 billion.The company, whose ES8 pure-electric, seven-seat sport-utility vehicle is seen as a rival to Tesla's Model X, priced 160 million shares at $6.26 on Tuesday, just above.

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