India, June 9 -- NIO Inc. (NIO), a Chinese electric vehicle manufacturer, on Tuesday called the decision by the U.S. Department of Defense to add the firm to "Chinese Military Companies" list unjustified.
The company claimed that it is not a Chinese military company or a military-civil fusion contributor to the Chinese defense industrial base.
NIO noted that the CMC List is not a sanctions list, and the connected U.S. government procurement limitations will not impact its business or growth. Also, the list does not restrict transacting in the firm's securities.
NIO plans to engage with the U.S. Department of Defense to rectify the list, willing to take legal action if necessary.
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