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Ardent Leisure Group (ASX:ALG) shareholders have endured a 21% loss from investing in the stock five years ago

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China’s Nio to make power products for Europe at its first overseas plant

Chinese electric car maker Nio plans to open its first overseas plant in September to make power products for the European market as it accelerates expansion abroad. The plant, in Pest, Hungary, will develop and manufacture power products such as battery-swapping stations to serve European users, Nio said in a statement late on Friday. Nio will speed up construction of battery swapping stations in Europe with a view to expanding sales of its cars in countries including Germany, the Netherlands, Sweden and Denmark in the second half of this yea.