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., an
investment vehicle majority owned by the Abu Dhabi Government
strategically focused on advanced and smart mobility (the
“Investor” or “CYVN Holdings”), pursuant to which the Investor will
invest an aggregate of US$738.5 million in cash to subscribe
84,695,543 newly issued Class A ordinary shares of the Company at a
per share purchase price of US$8.72, being the volume weighted
average price of Class A ordinary shares (as adjusted for the
American depository share-to-Class A ordinary share ratio) on the
New York Stock Exchange over the seven consecutive trading days
immediately preceding June 19, 2023 (the “Investment Transaction”).
The Investment Transaction is subject to
customary closing conditions and the closing is expected to take
place in early July 2023. 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 has agreed not to sell, transfer or
dispose of any shares acquired in the Investment Transaction for
six months after the closing.
Concurrently, the Company is aware that the
Investor has entered into a share purchase agreement with an
affiliate of Tencent (the “Existing Shareholder”) pursuant to which
the Investor will purchase 40,137,614 Class A ordinary shares of
the Company beneficially owned by the Existing Shareholder (the
“Secondary Share Transfer”). Upon the closing of the Investment
Transaction and Secondary Share Transfer, the Investor will
beneficially own approximately 7.0% of the Company’s total issued
and outstanding shares.
Upon or after closing of the Investment
Transaction, the Investor will be entitled to nominate one director
to the Company’s board of directors so long as it continues to
beneficially own no less than 5% of the Company’s outstanding share
capital. Such appointment will be subject to the requirements of
applicable laws, regulations, listing rules and the Company’s
articles of association.
In addition, NIO and the Investor agreed to cooperate to jointly
pursue opportunities in NIO’s international business following the
closing of the Investment Transaction.
“The strategic investments from CYVN Holdings
demonstrate NIO’s unique values in the smart electric vehicle
industry. The Investment Transaction will further strengthen our
balance sheet to power our continuous endeavors in accelerating
business growth, driving technological innovations and building
long-term competitiveness,” said William Bin Li, founder, chairman
and chief executive officer of NIO. “In addition, we are excited
about the prospect of partnering with CYVN Holdings to expand our
international business. With the vision of Blue Sky Coming, we will
continue to strive for technological breakthroughs and user
experiences beyond expectations, contributing to a more sustainable
future for the globe.”
“Our strategic investments in NIO are driven by
our appreciation of its leading brand, innovative and premium
products, and proven technological capabilities in the smart
electric vehicle market,” said Jassem Al Zaabi, Chairman and
Managing Director of CYVN Holdings. “We are excited to develop
strategic partnerships with NIO, and are fully committed to
providing strategic value that will support NIO’s international
business growth. We will join hands with NIO to drive the global
energy transition and sustainable growth for the whole
humanity.”
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, 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 ET5 Touring, a smart
electric tourer.
About CYVN Holdings
CYVN Holdings L.L.C. is a specialist investment
vehicle majority owned by the Abu Dhabi Government that deploys
capital in smart and advanced mobility solutions to create value
and accelerate the transition to a more sustainable future. It aims
to create a smart mobility platform by investing in and partnering
with industry leaders around the world.
CYVN Holdings is committed to the global
advancement of the mobility sector in recognition of its enormous
potential and the benefits that smarter mobility solutions will
bring to humanity.
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
Investor Relationsir@nio.com
Media Relationsglobal.press@nio.com
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