- tech360.tv
Nio Secures $2.2 Billion Investment Milestone from CYVN Holdings, a Major Abu Dhabi Fund
Updated: Jan 4
Chinese electric vehicle (EV) manufacturer Nio has received a significant investment of $2.2 billion from CYVN Holdings, an investment fund controlled by the Abu Dhabi government.
This marks the first time a Middle East investor has taken a substantial stake in a Chinese EV maker.
Nio, one of China's leading premium EV builders, announced that it has entered into a share subscription agreement with CYVN Holdings, specifically through its affiliate CYVN Investments RSC (CYVN). As part of the agreement, CYVN will subscribe to 294 million newly issued shares of Nio at a price of US$7.50 per share, resulting in a 20.1% stake in the company.
This investment from CYVN Holdings will provide Nio with a significant boost as it continues to expand its presence in the EV market.
With this new investment, Nio will have additional resources to further enhance its product lineup and accelerate its growth. The partnership with CYVN Holdings is a strategic move for Nio, as it not only brings in substantial funding but also opens up opportunities for collaboration and expansion in the Middle East market.
The Abu Dhabi fund's investment demonstrates confidence in Nio's potential and the growth prospects of the EV industry as a whole. This investment comes at a time when the global EV market is experiencing rapid growth and increasing demand for sustainable transportation solutions.
Chinese EV maker Nio has secured a $2.2 billion investment from CYVN Holdings, an investment fund controlled by the Abu Dhabi government.
This marks the first time a Middle East investor has taken a substantial stake in a Chinese EV maker.
CYVN Holdings will subscribe to 294 million newly issued shares of Nio, resulting in a 20.1% stake in the company.
Source: SCMP