Announces US$2.2 Billion Strategic Equity Investment from CYVN
Summary
Additionally, CYVN acquired certain Class A ordinary shares of the Company from an affiliate of Tencent Holdings Ltd. for an aggregate consideration of US$350 million. Such appointment will be subject to the requirements of applicable laws, regulations, listing rules and the Companys articles of association.NIO and CYVN, and their affiliates, will continue to work jointly to pursue strategic and technology collaborations in international markets following the closing of the December Investment Transaction.We are deeply inspired by CYVNs vision to accelerate the global transition to a more sustainable future, and we appreciate its endorsement of NIOs 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.Our increased investment in NIO represents a continuation of our ongoing strategy to build a leading global portfolio in the mobility space, said Jassem Al Zaabi, Chairman and Managing Director of CYVN Holdings. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users.