Nio EP9 self-driving concept EV. Photo by VCG/VCG via Getty Images

NIO, a Chinese electric car company whose backers include Baidu and Tencent, raised at least $1 billion in an IPO that priced at $6.25 per share, according to Reuters. It will begin trading tomorrow on the New York Stock Exchange.

Bottom line: NIO may someday become a rival to Tesla, but so far it makes Elon Musk's manufacturing output look prodigious. The Chinese upstart only began making deliveries this past June, with fewer than 2,000 vehicles shipped through the end of August.

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The Biden blowout scenario

Joe Biden speaks at an outdoor Black Economic Summit in Charlotte yesterday. Photo: Kevin Lamarque/Reuters

Joe Biden or President Trump could win the election narrowly — but only one in a popular and electoral vote blowout. 

Why it matters: A Biden blowout would mean a Democratic Senate, a bigger Democratic House and a huge political and policy shift nationwide.

2 hours ago - Technology

Justice's moves ring Big Tech with regulatory threats

Illustration: Annelise Capossela/Axios

The Department of Justice proposed legislation to curb liability protections for tech platforms and moved a step closer toward an antitrust lawsuit against Google Wednesday.

The big picture: As President Trump faces re-election, lawmakers and regulators are hurriedly wrapping up investigations and circling Big Tech with regulatory threats.

Democrats' mail voting pivot

Illustration: Sarah Grillo/Axios

Democrats spent the early months of the coronavirus pandemic urging their base to vote absentee. But as threats of U.S. Postal Service delays, Team Trump litigation and higher ballot rejection rates become clearer, many are pivoting to promote more in-person voting as well.

Why it matters: Democrats are exponentially more likely to vote by mail than Republicans this year — and if enough mail-in ballots are lost, rejected on a technicality or undercounted, it could change the outcome of the presidential election or other key races.

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