NIO China’s two Hefei-based subsidiaries record growth in registered capital

Shanghai (Gasgoo)- The registered capital of NIO Automobile (Anhui) Co.,Ltd., a wholly-owned subsidiary of NIO Holding Ltd., increased by 3 billion yuan ($464.684 million) to 9 billion yuan ($1.394 billion) on September 8, according to the business information provider Qichacha.

Founded in Aug. 2020, NIO Automobile (Anhui) has a line of businesses covering the sales and after-sale services of automobiles, auto parts, EV charging and battery swapping facilities, and the facilities related to energy storage system, such as battery swapping stations, DC/AC charging piles, mobile charging equipment, and energy storage stations or piles. Its legal representative is Qin Lihong, Co-founder and President of NIO.

At the same time, NIO Automobile Technology (Anhui) Co.,Ltd., which is also wholly controlled by NIO Holding Ltd., saw its registered capital grow to 3 billion yuan ($464.684 million) from 2 billion yuan ($309.79 million), according to Qichacha.

The company, incorporated in 2020, has a business scope extending to cover the research, development, testing, and related supporting technical services about electronics technologies and new automotive products. Qin Lihong also serves as its legal representative.

NIO Holding Ltd., previously named NIO (Anhui) Holding Co., Ltd., is the legal entity of NIO China, which is headquartered in Hefei, the capital of Anhui Province. At the end of April 2020, NIO signed agreements with a group of strategic investors, who agreed to pump an aggregate of 7 billion yuan ($1.084 billion) into NIO (Anhui) Holding Ltd. Those investors included Hefei City Construction and Investment Holding (Group) Co., Ltd., CMG-SDIC Capital Co., Ltd., and Anhui Provincial Emerging Industry Investment Co., Ltd.

According to Qichacha, NIO Holding Ltd. also holds 49% stake in Jianglai Advanced Manufacturing Technology (Anhui) Co.,Ltd., where JAC Group owns the other 51% equity interests. The joint venture was set up to deepen the cooperation between NIO and its contract manufacturer JAC Group, focusing on businesses like the advanced manufacturing and the management of services and supply chain related to intelligent-connected new energy vehicles.