On September 24, 2021, NIO Inc. (“NIO” or the “Company”), through its wholly owned subsidiary, entered into a definitive agreement to increase its shareholding in NIO Holding Co., Ltd. (“NIO China,” previously known as NIO (Anhui) Holding Co., Ltd.).
Pursuant to the agreement, NIO will (i) repurchase from a minority strategic investor that invested in NIO China in April 2020 (together with the remaining strategic investors, the “NIO China Strategic Investors”) 1.418% equity interest in NIO China for a consideration of RMB2.5 billion (the “Equity Interest Repurchase”); and (ii) subscribe for newly increased registered capital of NIO China at a subscription price of RMB7.5 billion (the “Capital Subscription”). Upon the completion of the Equity Interest Repurchase and the Capital Subscription, the Company will hold an aggregate of 92.114% controlling equity interests in NIO China.
In connection with the Equity Interest Repurchases and the Capital Subscription, the NIO China Strategic Investors have duly waived their applicable minority shareholder rights, including pre-emptive rights.
