Subscribe

NIO Raised More Than 1.7 Billion in ADS Issuance
COVID-19 and China
NIO ES8 Credit: NIO

On September 3, NIO announced the completion of the issuance of 107.75 million American Depositary Shares (ADS), including 13.275 million ADS shares purchased by the underwriters (each ADS represents one common stock of a Class A company). In this issuance, NIO raised more than USD 1.7 billion, making it the largest additional issuance in China's high-end smart electric vehicle industry.

The funds raised by NIO's issuance will be used to increase holdings of NIO China's shares, repurchase shares held by NIO China's minority shareholders, research and development of autonomous driving technology, global market expansion, and general corporate purposes.

According to the Hefei Municipal Government, NIO China expects to launch 6-8 models in 2024 with a revenue of CNY 120 billion; total revenue from 2020 to 2025 is projected to be CNY 420 billion. In addition, the two parties also proposed plans to be listed on the Science and Technology Innovation Board before 2025. Currently, NIO has 3 mass-produced models. To achieve this goal, it will need to produce a new product every year for the next 4 years.

Subscribe to the China NEV Intelligence Newsletter for daily updates.

Editor: Luke Sheehan

Latest Updates:

ANALYST
See Also

Communicate Directly with the Author!

Ask the author questions about the copied text

Research Reports
Editor's Picks