Nio Holding Co., a China-based subsidiary of electric vehicle maker Nio Inc., will receive 13.3 billion yuan ($1.9 billion) of investment from the parent and a group of strategic investors.
UBS Group AG Chairman Colm Kelleher said he had underestimated the negative public response to Chief Executive Officer Sergio Ermotti’s 14.4 million Swiss franc ($17.1 million) pay package in 2023.