Fund Raising

Nio is considering raising about $3 billion from investors and has approached investors from the Middle East, according to Bloomberg.

Shortly after the notes were priced, Nio purchased about $256 million aggregate principal amount of convertible senior notes due 2026 and about $244 million of convertible senior notes due 2027.

The $500 million 2029 notes bear interest at a rate of 3.875 percent per year and the other $500 million 2030 notes at 4.625 percent.

Nio seeks to price its 2029 notes at a coupon rate of 3.5 percent to 4.0 percent and its 2030 notes at a coupon rate of 4.25 percent to 4.75 percent, according to Bloomberg.

Nio plans to use a portion of the net proceeds to repurchase certain existing debt securities, with the remainder to be used primarily to further strengthen its balance sheet position and for general corporate purposes.

Avatr's post-investment valuation reached RMB 20 billion, and Nio's stake in the company dropped from 0.81 percent to 0.67 percent.

Neta has announced the closing of a RMB 7 billion Crossover round of financing, without revealing any other details about the funding.

NWTN will get a 27.5 percent stake in Evergrande NEV and the right to nominate a majority of the board of directors, valuing the Chinese carmaker at $1.82 billion.

Mavel, founded in Italy in 1999, will be a supplier of core components for Nio's next-generation platform, Nio Capital said.

HoloMatic expects its losses to narrow dramatically by 2024 and to break even by 2025, when it will apply for a stock market listing.