Nio Secures $1.9 Billion Investment, $470 Million from State-Backed Investors for Nio China Expansion

Sep 30, 2024, 01:18 AM

Nio, the Chinese electric vehicle maker, has announced a significant investment in its China unit, Nio China. The company will inject 13.3 billion yuan ($1.9 billion) into the unit, with 10 billion yuan coming from Nio itself and 3.3 billion yuan from strategic investors. These investors include Hefei Jianheng, Anhui Provincial Emerging Industry Investment, and CS Capital. The investment aims to expand Nio's charging and battery-swapping infrastructure. Nio will hold an 88.3% controlling equity interest in Nio China, while the strategic investors will hold an 11.7% equity interest. The move has led to a positive outlook from Deutsche Bank and a surge in Nio's stock price. Additionally, Nio announced a $470 million investment from state-backed investors, contributing to a total of $2 billion in new investments.