Chinese electric vehicle maker NIO is getting new investment and its shares surged Monday. EV shares have had a bumpy year as demand cooled for the vehicles and China’s economy struggled to recover from a prolonged property slump.

Nio (NYSE: NIO) shares are down almost 30% so far this year. But anyone who bought stock in the Chinese electric vehicle (EV) maker more recently has done quite well. Nio shares have soared by more than 65% over the past month.

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.

SHARES of Nio shot up by as much as 21.9 per cent on Monday (Sep 30), following news that strategic investors will invest around 3.3 billion yuan (S$602.6 million) into its China unit Nio Holding Co,

Nio Inc. jumped the most in nearly five months Monday after unveiling a cash injection worth 13.3 billion yuan ($1.9 billion) from existing shareholders.Most Read from BloombergA 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-High RentsClimate Migrants Stand to Overwhelm World’s MegacitiesNew Rowhouses in London That Offer a Bridge to the 19th CenturyVanderbilt Leases Struggling NYC Seminary for Campus ExpansionNJ Transit,

Key Takeaways Nio's U.S.-listed shares surged Monday after the company announced a new $1.9 billion investment.3.3 billion Chinese yuan will come from outside investors, with another 10 billion coming from the EV maker's parent company.

Chinese electric vehicle (EV) manufacturer Nio Inc. is set to inject 13.3 billion yuan (US$1.9 billion) into its China unit through a combination of its own funds and contributions from strategic investors.

Subsidiary receives US$471 million from a consortium of investors backed by the government of Hefei in Anhui province, where Nio has two factories.