NIO Buys Back 8.6% of NIO China's Stake, Raises Ownership to 84.5%

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NIO Buys Back 8.6% of NIO China's Stake, Raises Ownership to 84.5% On September 18, NIO announced that the company signed an agreement with Hefei Jianheng New Energy Vehicle Investment Fund Partnership (Limited Partnership) (Jianheng New Energy Fund), one of NIO's shareholders, on September 16 to redeem its 50% stake in NIO China, which is equivalent to 8.6% of NIO China's equity. According to the announcement, the total consideration for NIO's buyback is RMB511.5 million, which includes the capital increase amount actually paid by Jianheng New Energy Fund and a pro-rata interest rate of 10% per annum. In addition, NIO Auto will also assume a cash injection obligation of RMB 2 billion upon completion of the redemption. Upon completion of the redemption, NIO will hold a controlling stake of 84.5% in NIO China. In addition, the company has approved the renaming of its holding company from NIO (Anhui) Holdings to NIO Holdings.

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