Chinese electric vehicle firm Nio has secured a US$2.2 billion investment from CYVN Holdings. With the deal, the Abu Dhabi-based investment vehicle will gain a 20.1% stake in the EV firm and the right to nominate up to two directors.
Chinese electric vehicle firm Nio has secured a US$2.2 billion investment from CYVN Holdings. With the deal, the Abu Dhabi-based investment vehicle will gain a 20.1% stake in the EV firm and the right to nominate up to two directors.
The deal follows a previous US$739 million investment from CYVN, which helped drive Nio’s technology development and market expansion.
Source: techinasia
