SHANGHAI — Chinese electric vehicle maker Nio will receive a $2.2 billion strategic investment from a fund backed by Abu Dhabi, the company said Monday, as it bolsters finances in the face of growing competition.
CYVN Holdings will acquire 294 million newly issued shares in Nio for $7.50 each by the end of the month. The purchase will increase CYVN’s ownership in Nio to around 20.1%.