Nio has become a company with Chinese state capital with major shareholder change

According to Tianyancha, there was a change of shareholders of Nio Shanghai Automotive Co., Ltd. from Nio Nextev Limited to Nio (Anhui) Holding Co., Ltd. and a change of enterprise type from a limited liability company (sole proprietorship of Hong Kong, Macau and Taiwan corporations) to a limited liability company (sole proprietorship of foreign corporations).

Nio (Anhui) Holding Co., Ltd. is a joint venture between Nio Automotive and Hefei Construction Investment Holding (Group) Co. And this means that in the future Nio Motors will be a company with a local state-owned background.

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For Nio Automotive, throughout 2019, Bin Li, the founder of Nio Automotive, has been doing almost one thing, and that is financing.

In May 2019, a domestic media reported that Nio Automotive had signed a framework agreement with Beijing Yizhuang International Investment and Development Co. However, for various reasons, the funds were delayed in arriving.

In October, Nio Automotive reached a 5 billion yuan financing plan with Wuxing District, Huzhou, Zhejiang Province, but the result was also unsuccessful. in early 2020, Nio Automotive's third-largest shareholder, High Altitude Capital, liquidated its position in Nio Automotive.

But the good thing is that since entering 2020, Nio has secured two successive rounds of financing, accumulating $200 million, easing the flow of funds, but still a drop in the bucket.

In April this year, Nio Automotive signed an agreement with Hefei, Anhui Province, which not only secured the latter's 7 billion yuan strategic financing, but also officially settled Nio's China headquarters in Hefei.

In response, Nio Li Bin said in an interview with the media that he was satisfied with the business environment in Hefei and Anhui Province. He said: "Hefei occupies an increasingly important strategic position in the integration of the Yangtze River Delta. Both the foundation of the automotive industry and the technical foundation of artificial intelligence, software and electric vehicles are solid."