A 7 billion yuan ($989 million) investment by investors into Nio China, a new entity controlled by Chinese electric vehicle maker Nio Inc, will smooth its cash flow and guarantee future product developments, its CEO said on Wednesday.
FILE PHOTO: NIO ES8 electric SUVs are seen displayed at the second media day for the Shanghai auto show in Shanghai, China April 17, 2019. REUTERS/Aly Song
The investors include state-controlled Hefei Construction Investment Holding Co Ltd, CMG-SDIC Capital Management Co Ltd, and Anhui High and New Technology Industrial Investment Co Ltd. Nio delivered 3,838 vehicles in the first three months this year, and sales and production were recovering in March compared to February.
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