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NIO Confirms a Strategic 2.257 Billion Yuan Investment in Its Subsidiary, Propelling the Progress of Its Intelligent Driving Chip Business
1 day ago /
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Author：小编
On February 26, NIO Group made an announcement stating that its subsidiary, GeniTech Co., Ltd. (hereinafter referred to as Shenji), has entered into a conclusive agreement with several Chinese investors. These investors of Shenji are set to subscribe to newly issued shares in the company, injecting 2.257 billion yuan in cash. Once the transaction is finalized, NIO's subsidiary will retain a 62.7% ownership stake in Shenji. Meanwhile, the investors will collectively hold a 27.3% share, and the remaining 10% will be allocated to entities participating in the share incentive plan.
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