Chinese electric car maker Nio Motors went into spotlight again as rumors were cucuriating that luxury car maker Porsche has invested in it.
Recently, Nio's logo appeared on a list of companies that Porsche is about to establish partnerships with.
This made people ask have Porsche invested in Nio.
In response to this, Porsche said today that it has invested in "Nio Capital" instead of Nio Motors.
Nio Capital is a market-oriented private equity investment institution, an industrial fund independent of Nio. The venture capital fund focuses on mobile mobility and future technologies.
Nio Capital has a US dollar fund and a RMB fund. Porsche this time bought the "Nio Capital" fund, which aims to strengthen the connection with China's future travel market.
Since entering 2020, Nio has completed a number of financings, with a cumulative amount of $435 million, or about RMB 3 billion.
It is worth mentioning that Nio also reached a preliminary agreement with the Hefei Municipal Government, which is expected to receive 10 billion yuan in financing.
However, the future founder Li Bin did not disclose the specific details of the financing, but only said that Nio's business in China will be an independent entity to attract investors in RMB. The final agreement between the two parties is expected to be formally signed by the end of April.