A group of strategic investors - including Hefei Jianheng New Energy Automobile Investment Fund Partnership, Anhui Provincial Emerging Industry Investment Co., and CS Capital Co. — has definitive agreements to invest 3.3 billion yuan in cash for newly issued shares of Nio Holding Co., also known as Nio China, according to a company statement Sunday.
Nio Inc. jumped the most in nearly five months Monday after unveiling a cash injection worth 13.3 billion yuan ($2.43 billion)) from existing shareholders.
The Singapore-listed shares of the loss-making Chinese electric vehicle maker gained almost 16% on the financial reinforcement of its China unit through a mix of its own cash and strategic investors’ funds.
