Written by Cláudio Afonso | LinkedIn | X
Nio’s China entity, Nio Holdings Ltd., has increased its registered capital from approximately 7.429 billion yuan to 7.857 billion yuan ($1.08 billion), a rise of over 400 million yuan ($54.8 million), according to data from China’s corporate registry Tianyancha.
In late October, the entity had increased its registered capital by one billion yuan to 7.43 billion yuan. Founded in November 2017, Nio Holding Co., Ltd. operates under Nio with the founder and chief executive William Li being the legal representative.
The company’s shareholder base includes Nio Nextev Limited, Nio User Enterprise Limited, and the Hefei Jianheng New Energy Vehicle Investment Fund Partnership.
Earlier this month, the EV maker’s entitity Nio Automotive Technology (Anhui) Ltd. had tripled its registered capital to 18 billion yuan from 6 billion yuan. In total, the three capital raises amount to a total of 13.4 billion yuan ($1.84 billion) this year.
As reported earlier today, Nio said Thursday it has informed holders of its 0.50% Convertible Senior Notes due 2027 that they have the option to require the company to repurchase their notes for cash on February 1, 2025.
In May, the Shanghai-headquartered EV maker announced that its Nio Power unit, which focuses on EV battery charging and swapping services, received a 1.5 billion yuan ($207.9 million) investment led by Wuhan Guangchuang Emerging Technology Venture Capital Fund Phase I.
Amid the announcement, the company said the investment would be directed towards different fields including advancing research and development, the company’s charging and swapping infrastructure network, vehicle-to-grid (V2G) interaction, among others.
According to the Chinese business registration platform Tianyancha, the Wuhan Guangchuang Innovation Technology Phase I Venture Capital Fund, which is affiliated with the Optics Valley Industrial Investment Fund, has taken a 10% stake in the Nio Power unit which has now increased its registered capital from 2 billion yuan to approximately 2.222 billion yuan ($308 million).
Following this restructuring, Nio Holding Co., Ltd. holds a 90% stake in the company, with Wuhan Guangchuang Innovation Technology Phase I Venture Capital Fund holding the remaining 10%.
Written by Cláudio Afonso | LinkedIn | X
