In the midst of rumors about mixed reform stemming from NIO’s recent layout in Hefei, JAC and NIO Automobile were quick to deny of such a development.
JAC officially stated that there was no other cooperation plan between the company and NIO except those that were disclosed. Qin Lihong, NIO co-founder and president, refuted the rumors, saying “The matter of mixed reform has never been formally discussed between the management of NIO and JAC”.
Last February 25, NIO and Hefei City signed a cooperation framework agreement for the transfer of NIO China headquarters to the city. The automaker’s smart electric coupe SUV EC6 mass production project was also launched on the same day.
The Hefei government will invest in the NIO China headquarters project via designated investment companies and joint market-oriented investors. Total investment is projected to exceed 10 billion yuan.
In the aftermath of the agreement, some quarters reported that NIO would participate in the “mixed reform” of JAC Motors which has been currently experiencing abnormal fluctuations in stock trading. JAC has made an announcement in that regard, an indication that the company’s stocks experienced cumulative deviation over 20% from the closing price of three consecutive trading days from February 24 to 26.