- Chinese electric car startup Nio Inc is expected to get strategic investment of over 10 billion yuan ($1.43 billion) from the Hefei city government in Anhui province.
- As part of the deal, Nio will establish in Hefei a company in charge of its China operations, including production, research and development and sales.
- Nio has built a plant in Hefei with JAC Motors which is producing Nio’s ES8 and ES6 SUVs.