CYVN Holdings

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China EV maker Nio secures $2.2bn investment from Abu Dhabi

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Nio, CYVN Holdings

Chinese electric vehicle maker Nio will receive a $2.2 billion strategic investment from a fund backed by Abu Dhabi, as it bolsters finances in the face of growing competition. CYVN Holdings will acquire 294 million newly issued shares in Nio for $7.50 each by the end of the month. The purchase will increase CYVN’s ownership in Nio to around 20.1%.

Read more at Nikkei Asia