Written by Cláudio Afonso | LinkedIn | X
Nio Holdings Limited, the China entity of EV maker Nio, has raised its registered capital following the addition of two new shareholders, Hefei Jianxiang Investment Co., Ltd. and Anhui Gaoxin Yuwen Weiyuan Technology Partnership, according to corporate registry data from Tianyancha on Thursday.
The company’s registered capital has increased from 7.857 billion yuan ($1.08 billion) to 8.257 billion yuan ($1.14 billion).
Hefei Jianxiang Investment Co., Ltd. contributed 286 million yuan ($39.4 million) for a 3.46% stake, while Anhui Gaoxin Yuwen Weiyuan Technology Partnership invested 114 million yuan ($15.7 million) for a 1.38% stake.
Both new investors are state-backed. Hefei Jianxiang Investment is a wholly state-owned enterprise controlled by the State-owned Assets Supervision and Administration Commission (SASAC) of the Hefei Municipal Government, while Anhui Gaoxin Yuwen Weiyuan Technology Partnership is ultimately controlled by the SASAC of Anhui Province.
Nio’s two main factories, known as F1 and F2, are located in the city of Hefei — one of the country’s tech hubs located about 300 miles from Shanghai. A year ago, also Volkswagen announced it would invest €2.5 billion ($2.70 billion) to expand its production and innovation center in Hefei.
Nio Holdings, established in November 2017 with William Li as its legal representative, has been increasing its registered capital over the past year.
Last October, Nio Holdings raised its capital by 1 billion yuan to 7.43 billion yuan. Two months later, in December, the entity raised its capital from 7.429 billion yuan to 7.857 billion yuan ($1.08 billion), an increase of over 400 million yuan ($55.2 million).
Also late last year, Nio’s entity ‘Nio Automotive Technology Ltd.’ tripled its registered capital from 6 billion yuan to 18 billion yuan. In total, these three capital raises amount to 13.4 billion yuan ($1.84 billion) in 2024.
Additionally, in May 2024, Nio’s battery infrastructure subsidiary, Nio Power, secured a 1.5 billion yuan ($207.9 million) investment led by Wuhan Guangchuang Emerging Technology Venture Capital Fund Phase I to support its EV charging and battery swapping services.
Nio’s Hong Kong-listed shares closed 3% higher on Thursday at HK$34.10.
