Nio Announces RMB 3.3 Billion Investment in Nio China, $460 Million Capital Raise, and $1.9 Billion Investment

Sep 29, 2024, 07:34 AM

Nio, the electric vehicle manufacturer, has announced a significant investment of RMB 3.3 billion (approximately $460 million) in its China-based subsidiary, Nio China. This investment comes from a group of strategic investors, including three state-owned entities. As a result of this investment, Nio will retain an 88.3 percent controlling equity interest in Nio China, while the strategic investors will hold an 11.7 percent equity interest. Additionally, Nio has announced a separate $460 million capital raise. Nio Holding will also receive $1.9 billion of investment from the parent and strategic investors. This move is part of Nio's broader strategy to bolster its financial position and support its growth in the competitive electric vehicle market.