NIO Inc. (NYSE: NIO; HKEX: 9866; SGX: NIO) (“NIO” or the
“Company”), a pioneer and a leading company in the premium smart
electric vehicle market, today announced that it has entered into a
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, pursuant to which CYVN will invest
an aggregate of US$2.2 billion in cash to subscribe for
294,000,000 newly issued Class A ordinary shares of the
Company at a per share purchase price of US$7.50
(the “December Investment Transaction”).
As previously announced, in July 2023 the
Company received a US$738.5 million strategic
equity investment from CYVN. Additionally, CYVN
acquired certain Class A ordinary shares of the Company from an
affiliate of Tencent Holdings Ltd. for an aggregate consideration
of US$350 million. Following the completion of the
December Investment Transaction, CYVN will beneficially
own approximately 20.1% of the Company’s total issued and
outstanding shares.
The December Investment Transaction is subject
to customary closing conditions and the closing is expected to take
place in the final week of December. The share issuance is
conducted as a private placement in reliance on Regulation S under
the Securities Act of 1933, as amended (the “Securities Act”), to
be exempt from registration. The Investor and the Company are both
subject to certain lock-up arrangements for a period of six (6)
months following closing of the December Investment
Transaction.
Upon closing of the December Investment
Transaction, CYVN will be entitled to nominate two directors
to the Company’s board of directors so long as it continues to
beneficially own no less than 15% of the Company’s outstanding
share capital. If CYVN beneficially owns less than 15% but
more than 5% of the Company’s outstanding share capital, it will be
entitled to nominate one director to the Company’s board of
directors. Such appointment will be subject to the requirements of
applicable laws, regulations, listing rules and the Company’s
articles of association.
NIO and CYVN, and their affiliates, will
continue to work jointly to pursue strategic and technology
collaborations in international markets following the closing of
the December Investment Transaction.
“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.”
“Our increased investment in NIO represents a
continuation of our ongoing strategy to build a leading global
portfolio in the mobility space,” said Jassem Al Zaabi, Chairman
and Managing Director of CYVN Holdings. “This transaction
demonstrates our confidence in NIO’s unique positioning and
competitiveness in the global smart EV industry. We are excited to
be a long-term strategic partner of NIO and support its efforts in
product innovation, technological breakthroughs and international
market expansion.”
About NIO
NIO Inc. is a pioneer and a leading company in
the premium smart electric vehicle market. Founded in November
2014, NIO’s mission is to shape a joyful lifestyle. NIO aims to
build a community starting with smart electric vehicles to share
joy and grow together with users. NIO designs, develops, jointly
manufactures and sells premium smart electric vehicles, driving
innovations in next-generation technologies in autonomous driving,
digital technologies, electric powertrains and batteries. NIO
differentiates itself through its continuous technological
breakthroughs and innovations, such as its industry-leading battery
swapping technologies, Battery as a Service, or BaaS, as well as
its proprietary autonomous driving technologies and Autonomous
Driving as a Service, or ADaaS. NIO’s product portfolio consists of
the ES8, a six-seater smart electric flagship SUV, the ES7 (or the
EL7), a mid-large five-seater smart electric SUV, the ES6 (or the
EL6), a five-seater all-round smart electric SUV, the EC7, a
five-seater smart electric flagship coupe SUV, the EC6, a
five-seater smart electric coupe SUV, the ET7, a smart electric
flagship sedan, the ET5, a mid-size smart electric sedan, and the
ET5T, a smart electric tourer.
About CYVN Holdings
CYVN Holdings is a specialist investment vehicle
based in Abu Dhabi, that deploys capital in smart and advanced
mobility solutions. It aims to create a smart mobility platform by
investing in and partnering with industry leaders around the
world.
Safe Harbor Statement
This press release contains statements that may
constitute “forward-looking” statements pursuant to the “safe
harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “aims,”
“future,” “intends,” “plans,” “believes,” “estimates,” “likely to”
and similar statements. NIO may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the “SEC”), in its annual
report to shareholders, in announcements, circulars or other
publications made on the websites of each of The Stock Exchange of
Hong Kong Limited (the “SEHK”) and the Singapore Exchange
Securities Trading Limited (the “SGX-ST”), in press releases and
other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including statements about NIO’s beliefs,
plans and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: NIO’s
strategies; NIO’s future business development, financial condition
and results of operations; NIO’s ability to develop and manufacture
a car of sufficient quality and appeal to customers on schedule and
on a large scale; its ability to ensure and expand manufacturing
capacities including establishing and maintaining partnerships with
third parties; its ability to provide convenient and comprehensive
power solutions to its customers; the viability, growth potential
and prospects of the newly introduced BaaS and ADaaS; its ability
to improve the technologies or develop alternative technologies in
meeting evolving market demand and industry development; NIO’s
ability to satisfy the mandated safety standards relating to motor
vehicles; its ability to secure supply of raw materials or other
components used in its vehicles; its ability to secure sufficient
reservations and sales of its vehicles; its ability to control
costs associated with its operations; its ability to build the NIO
brand; general economic and business conditions globally and in
China and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in NIO’s filings with the SEC and the announcements and
filings on the websites of each of the SEHK and SGX-ST. All
information provided in this press release is as of the date of
this press release, and NIO does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For more information, please visit:
http://ir.nio.com
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