NIO announced on its official Weibo that, on the morning of October 9, the NIO China Headquarters, located in the Hefei Economic Development Zone, which is part of the Anhui Free Trade Zone, was officially opened.
According to previous reports, NIO will establish a comprehensive base in Hefei for headquarters management, research and development, sales and service, and supply chain manufacturing.
At the end of April this year, NIO signed an agreement with Hefei Construction Investment Holdings (Group) Co., Ltd., SDIC China Merchants Investment Management Co., Ltd., and Anhui High-tech Industry Investment Co., Ltd., and obtained 7 billion yuan investment from the three companies and jointly established NIO (Anhui) Holding Co., Ltd.
NIO’s automotive business and assets (valued at 17.77 billion yuan) will be injected into NIO (Anhui) Holding Company. In the end, NIO INC will hold a 75.9% stake in the joint venture, while investors will hold 24.1%.
The implementation of NIO in China means it has a dedicated financing entity in mainland China. At the same time, the company also has sufficient capital reserves to support the gradual advancement of subsequent actions.
NIO CEO Li Bin once stated: ‘NIO will have more ample funds, further expand its financing channels, and also meet the conditions for an IPO on the Chinese capital market.’
