BEIJING (dpa-AFX) - NIO Inc. (NIO), a Chinese premium smart electric vehicle maker, announced a RMB 3.3 billion investment from strategic investors in its Chinese subsidiary, NIO Holding Co., Ltd (NIO China), through the subscription of newly issued shares of NIO China.
The strategic investors include Hefei Jianheng New Energy Automobile Investment Fund Partnership, Anhui Provincial Emerging Industry Investment Co., Ltd. and CS Capital Co., Ltd.
NIO noted that it will invest an aggregate of RMB10 billion in cash to subscribe for newly issued shares of NIO China. Upon completion of the Investment Transaction, NIO will hold 88.3% of controlling equity interest in NIO China, while the Strategic Investors together with the other existing shareholders will collectively hold the remaining 11.7% of equity interest in NIO China.
In addition, NIO also has the right to invest an additional RMB20 billion to subscribe for additional shares in NIO China by December 31, 2025 based on the same price and terms of the Investment Transaction.
The Strategic Investors and NIO will each inject cash into NIO China in two installments, with 70% of the Strategic Investment Amount and NIO Investment Amount to be made by the end of November 2024, with the remaining 30% to be made by the end of December 2024.
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