NIO established an automotive technology company with a registered capital of 7 billion

We learned from Tianyancha that NIO Automotive Technology Co., Ltd. has been officially established, with Li Bin, the founder of NIO, as the legal representative, with a registered capital of 7 billion yuan and a registered address in Beijing Economic and Technological Development Zone, Beijing. The major shareholder is NIONEXTEVLIMITED, with a subscribed capital of 6 billion yuan and a shareholding ratio of 85.71%.

In addition, the major shareholder also holds 100% of Shanghai Weilai Automobile Co., Ltd., with a subscribed capital of US$2.5 billion; and holds 25% of the shares of Shanghai Weilai Financial Leasing Co., Ltd.

The new company's business scope is "technical development, technical services, technology transfer, and technical consulting for new energy vehicles and related parts; wholesale of auto parts; import and export of goods, import and export agency, and import and export of technology; and sales of automobiles."

On May 28, NIO signed a framework agreement with Beijing Yizhuang International Investment Development Co., Ltd. ("Yizhuang Guotou"), whereby NIO will set up a new entity "NIO China" in Beijing Economic and Technological Development Zone and build a new factory to produce its second-generation platform models. Yizhuang Guotou will invest RMB 10 billion in cash in "NIO China" through its designated investment company or in conjunction with other investors.

Li Bin, founder of NIO, said in an interview with relevant media that after the launch of NIO China, NIO will implement a dual headquarters strategy in Shanghai and Beijing. At the same time, NIO will make its R&D, supply chain, sales and service businesses in China independent entities, but NIO China will still be controlled by the US listed company.