NIO announced a financing of 2.2 billion US dollars, looks like the Middle Eastern tycoons have money!

NIO Secures $2.2 Billion in Financing, Indicating Wealthy Middle Eastern Investors' Interest

[PhoneAuto News] On December 18th, PhoneAuto noticed that NIO announced in a Hong Kong Stock Exchange announcement that it has signed a new round of stock subscription agreement with Abu Dhabi investment institution CYVN Holdings. CYVN Holdings will make a strategic investment in NIO totaling approximately $2.2 billion in cash through its subsidiary CYVN Investments. After this investment is completed, NIO and CYVN will continue to cooperate strategically and technologically in the international market.

NIO announces $2.2 billion financing NIO announces $2.2 billion financing

In July of this year, CYVN completed a strategic investment totaling approximately $1.1 billion through the issuance of new shares and the transfer of old shares. CYVN is an investment institution headquartered in Abu Dhabi, focusing on strategic investments and layout in advanced, intelligent, and sustainable mobile transportation field.

Abu Dhabi (Arabic: أبو ظبي‎; English: Abu Dhabi) is the capital of the United Arab Emirates and the capital of the Abu Dhabi Emirate. Currently, NIO not only collaborates with Abu Dhabi investment institutions but also reportedly has plans to enter the Middle East market.

It is worth mentioning that just this past weekend, NIO CEO and founder, Li Bin, drove the ET7 from Shanghai to personally test the endurance ability of the 150-degree battery pack. Ultimately, at 19:44, it officially surpassed 1000km. Previously, during internal testing at NIO, the battery pack set a record for electric vehicles by traveling from Kunming to Beihai, a distance of 1145 kilometers.

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