EV manufacturer Nio has received a 4 billion yuan (US$552.18 million) capital injection from two state-owned entities in Anhui Province.

Hefei Jianxiang Investment Co., Ltd. invested 2.86 billion yuan (US$394.81 million) for a 3.46% stake, while Anhui Gaoxin Yuwun Weiyuan Technology Partnership Enterprise contributed 1.14 billion yuan (US$157.37 million) for a 1.38% stake.

This increased Nio’s registered capital from 7.857 billion yuan (US$1.08 billion) to 8.257 billion yuan (US$1.14 billion), reflecting continued local government support.

Following the announcement, Nio’s Hong Kong-listed shares rose 2.42% to HK$33.9 (US$4.36) per share, bringing its market valuation to HK$70.866 billion (US$911.94 million).

Founded by William Li, Nio has now completed 16 rounds of financing, with total funding reaching approximately 118.7 billion yuan (US$16.39 billion).

Recent Nio developments