NIO, the Chinese electric vehicle maker, has received a strategic investment of USD 1.1 billion from CYVN Holdings, an investment institution in Abu Dhabi. The investment will be made through a private placement of new shares and transfer of old shares.
The investment will further strengthen NIO's balance sheet and provide the company with continuous impetus in accelerating business growth, promoting technological innovation, and establishing long-term competitiveness. It will also help NIO expand its international business in the future.
CYVN Holdings is a majority-owned investment institution held by the Abu Dhabi government. It focuses on strategic investment and deployment in the field of advanced and intelligent mobility. The investment in NIO is a sign of CYVN's confidence in the company's future and its commitment to the development of the electric vehicle industry.
Li Bin, founder, chairman and CEO of NIO, said: "This investment transaction will further strengthen NIO's balance sheet and provide us with continuous impetus in accelerating business growth, promoting technological innovation, and establishing long-term competitiveness. At the same time, we look forward to working with CYVN to expand NIO's international business in the future."
The investment from CYVN is a significant vote of confidence in NIO and its future. It will help the company to continue to grow and expand its global reach.
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