BYD and NIO deny cooperation to set up new company

Recently, a rumor about BYD and NIO cooperating to establish a new company has been widely circulated on the Internet. The rumor claims that BYD will hold 51% of the shares of the new company, while NIO will hold 49%. However, both BYD and NIO have refuted the rumor and denied the claim. After receiving a report from the relevant parties, the police have launched an investigation into the incident.