Written by Cláudio Afonso | LinkedIn | X
Nio Holding Co., Ltd., the China-based entity behind electric vehicle (EV) manufacturer Nio, has raised its registered capital by nearly 1 billion yuan (approximately $140.4 million), taking it from 6.43 billion to 7.43 billion yuan ($1.04 billion), a new filing revealed on Wednesday.
Founded in November 2017, Nio Holding Co., Ltd. operates under the Nio Group founder, CEO, and legal representative William Li.
The company’s shareholder base includes Nio Nextev Limited, Nio User Enterprise Limited, and the Hefei Jianheng New Energy Vehicle Investment Fund Partnership.
In late September, Nio announced a 3.3 billion yuan (roughly $470 million) investment into Nio Holding Co., Ltd., commonly referred to as Nio China.
This infusion was led by key investors, including the Anhui Provincial Emerging Industry Investment and the Hefei Jianheng New Energy Automobile Investment Fund Partnership, both of whom share a history of supporting Nio, including a $1 billion investment agreement in 2020.
Both Nio factories are located in Hefei, Anhui Province, with a third one under construction as Onvo sub-brand eyes ambitious ramp-up production for late 2024 and 2025.
Amid the investment announced four weeks ago, William Li praised the continuous support from the Anhui province and Hefei, highlighting their role in “rescuing” the company in 2020.
“As our country approaches its 75th anniversary, Nio China has once again received support from its shareholders. Four years ago, Anhui and Hefei rescued Nio from the ICU,” Li wrote.
According to Li, this latest investment signals “a firm commitment to the innovation in the smart electric vehicle industry in Hefei and Anhui.”
“This is not only a sign of trust in Nio but also a firm commitment to innovation in the smart electric vehicle industry in Hefei and Anhui, demonstrating strong confidence in the high-quality development of China’s smart EV industry,” he said.
Earlier this week, the company was granted a patent for a double-layer battery swap station by China’s State Intellectual Property Office after a seven-year wait.
The patent, initially filed on May 9, 2017, introduces a “stereoscopic battery swap garage and swap method,” offering a new approach to reducing the construction costs associated with battery swap stations, as China’s media outlet IT Home initially reported.
Written by Cláudio Afonso | LinkedIn | X
