On Monday, Chinese electric vehicle manufacturer NIO revealed that it has signed a share subscription agreement with CYVN Holdings L.L.C., an investment entity based in Abu Dhabi, through its affiliate, CYVN Investments RSC Ltd. Under this agreement, CYVN will make a total cash investment of US$2.2 billion in NIO.
Following the completion of the December Investment Transaction, NIO and CYVN, along with their respective affiliates, will continue their joint efforts in pursuing strategic and technological collaborations in international markets, as per NIO‘s announcement.
“We are deeply inspired by CYVN’s vision to accelerate the global transition to a more sustainable future, and we appreciate its endorsement of NIO’s unique values. With the enhanced balance sheet, NIO is well prepared to sharpen brand positioning, bolster sales and service capabilities, and make long-term investment in core technologies to navigate the intensifying competitive landscape, while continually improving execution efficiency and system capabilities,” said William Bin Li, founder, chairman and chief executive officer of NIO. “We are confident that NIO will further solidify its leading position in the transformation of the automotive industry.”