Announces Closing of Strategic Equity Investment from CYVN
Summary
Announces Closing of Strategic Equity Investment from CYVNSHANGHAI, China, July 12, 2023 (GLOBE NEWSWIRE) -- NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (NIO or the Company), a pioneer and a leading company in the premium smart electric vehicle market, today announced that it has closed the US$738.5 million strategic equity investment from CYVN Investments RSC Ltd, an affiliate of CYVN Holdings L.L.C., an investment vehicle majority owned by the Abu Dhabi Government with a strategic focus on advanced and smart mobility (collectively referred to as CYVN Entities), previously announced on June 20, 2023 (the Investment Transaction).Based on publicly disclosed information, CYVN Entities also acquired certain Class A ordinary shares of the Company from an affiliate of Tencent for an aggregate consideration of US$350 million (the Secondary Share Transfer). Following the Investment Transaction and the Secondary Share Transfer, CYVN Investments RSC Ltd in aggregate beneficially owns approximately 7.0% of the Companys total issued and outstanding shares.Going forward, NIO and CYVN Entities will work jointly to pursue strategic collaborations in international business and technology cooperation.About NIO Inc. NIO Inc. is a pioneer and a leading company in the premium smart electric vehicle market. NIO aims to build a community starting with smart electric vehicles to share joy and grow together with users. NIO designs, develops, jointly manufactures and sells premium smart electric vehicles, driving innovations in next-generation technologies in autonomous driving, digital technologies, electric powertrains and batteries. NIO may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the SEC), in its annual report to shareholders, in announcements, circulars or other publications made on the websites of each of The Stock Exchange of Hong Kong Limited (the SEHK) and the Singapore Exchange Securities Trading Limited (the SGX-ST), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties.