NIO secures $2.2 billion strategic investment from Abu Dhabi’s CYVN

Shanghai (Gasgoo)- On December 18th, NIO inked a new share subscription agreement with CYVN Holdings L.L.C ("CYVN Holdings"), through its affiliate CYVN Investments RSC Ltd (the "Investor" or "CYVN"), an investment vehicle based in Abu Dhabi.

As per the agreement, CYVN will make a strategic investment of approximately $2.2 billion in cash to subscribe for 294 million newly issued Class A ordinary shares of NIO at a per share purchase price of US$7.50 (the "December Investment Transaction").

Following this investment, NIO and CYVN will continue their strategic and technology collaborations in the international market.

This latest investment builds on CYVN's previous strategic investment of about $1.1 billion in July through a combination of private placement of new shares and transfer of existing shares. CYVN focuses on strategic investments and positioning in the advanced, intelligent, and sustainable mobility sector, actively seeking partnerships with global industry leaders.

Upon completion of the December Investment Transaction, CYVN will be entitled to nominate two directors to NIO's board of directors so long as it continues to beneficially own no less than 15% of NIO's outstanding share capital. If CYVN beneficially owns less than 15% but more than 5% of NIO's outstanding share capital, it will be entitled to nominate one director to NIO's board of directors.

"We are deeply inspired by CYVN's vision to accelerate the global transition to a more sustainable future, and we appreciate its endorsement of NIO's unique values. With the enhanced balance sheet, NIO is well prepared to sharpen brand positioning, bolster sales and service capabilities, and make long-term investment in core technologies to navigate the intensifying competitive landscape, while continually improving execution efficiency and system capabilities," said William Bin Li, founder, chairman and chief executive officer of NIO. "We are confident that NIO will further solidify its leading position in the transformation of the automotive industry."