Fund Raising

Chinese EV maker Nio plans to offer $1.3 billion in convertible notes which include $650 million in notes due 2026 and $650 million due 2027, the company said during the after-hours trading session.

A recent report showed that Nio and Xpeng are tied for first place with 13 financing events each in China's new energy vehicle industry over the past decade, out of a total of 897 financing events.

Nio said the underwriters will exercise their option to purchase the additional 10.2 million ADSs in full.

Tesla, Xpeng, and Li Auto have all issued or announced plans to issue additional shares, leaving Nio the only major EV maker not having announced such plans as of Thursday.

Xpeng priced its follow-on offering of the ADS at $45 each, representing a 7.6% discount to its last closing price of $48.69.

Nio China today received a 10.4 billion yuan ($1.48 billion) credit facility from six Chinese banks, further strengthening its financial status.

Chinese EV company Nio will receive a credit line of over 10 billion yuan ($1.4 billion) from six banks, according to Sina News.

Nio Morots has completed a final agreement to bring in strategic investors under which they will invest RMB 7 billion in Nio China.

Nio announced today that it has completed a $235 million convertible note financing. The investors are a number of Asian investment funds, all of which are "non-affiliated parties" and are not pure financial investors, it said.