On December 18, 2023, NIO and Abu Dhabi investment firm CYVN Holdings (CYVN) signed a new round of share subscription agreement. According to the agreement, CYVN Holdings will invest a total of approximately $2.2 billion in NIO in cash through its subsidiary CYVN Investments. After the investment is completed, NIO and CYVN will continue to cooperate strategically and technically in the international market.
In July of this year, CYVN completed a strategic investment of approximately $1.1 billion through a combination of new share issuance and share transfer. CYVN is an investment firm headquartered in Abu Dhabi that focuses on strategic investment and layout in the field of advanced, intelligent, and sustainable mobility, and is committed to cooperating with industry leaders in this field around the world.
NIO founder, chairman, and CEO Li Bin said, “We are inspired by CYVN’s vision of accelerating the global transition to a more sustainable future, and we thank CYVN for its recognition of NIO’s unique value. With the strengthening of our balance sheet, NIO is fully prepared to address the increasingly competitive landscape. While strengthening our brand positioning, enhancing our sales and service capabilities, and making long-term investments in core technologies, we will continue to improve our execution efficiency and systematic capabilities. We believe that NIO will further consolidate its leading position in the global automotive industry transformation.”
CYVN Chairman and CEO Jassem Al Zaabi said, “Increasing our strategic investment in NIO is in line with our strategy of building a global leading investment portfolio in the mobility sector. This investment demonstrates our confidence in NIO’s unique position and competitiveness in the global smart electric vehicle industry. We are delighted to become a long-term strategic partner of NIO and support its tireless efforts in product innovation, technological breakthrough, and international market expansion.”
It is worth noting that NIO will hold NIO Day (NIO Day) at the Xi’an Sports Center on December 23rd. The theme of NIO Day 2023 is “Upward.” In addition, a new flagship model will be released on the day of the event. This model will be equipped with NIO’s new technology. We will continue to pay attention to more news about the new car.
This investment is a vote of confidence in NIO’s long-term growth prospects. It will help NIO to strengthen its balance sheet, accelerate its global expansion, and continue to innovate in product and technology.