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NIO said to close over $1 billion financing round

Nancy From Gasgoo| November 09 , 2017 10:55 BJT

NIO  Tencent financing, Baillie Gifford, Lone Pine, CITIC Capital, China AMC

Shanghai (Gasgoo)- According to one of NIO's early investors, NIO recently closed a financing round of over $1 billion. This financing was led by Tencent, and other investors include Baillie Gifford, Lone Pine, CITIC Capital, China AMC, etc.

It is said that this financing will be the last financing round before the company launches its first battery electric vehicle, the ES8. The continuous investment from global enterprises shows that they feel bullish about NIO's future development.

According to the previous news from NIO, on Dec.16, NIO Day, the first get-together for NIO and its friends, will be held at Beijing Wukesong Gymnasium. During the day, the NIO ES8 and its price will be both released. Besides, NIO will also present its innovative service modes such as EV charging and battery swap system and NOMI AI partner, etc.

The NIO ES8 was showcased at the Auto Shanghai 2017 in April. The ES8 is a high-performance seven-seater pure electric SUV with a length and a wheelbase of over 5 meters and 3 meters. Featuring all-aluminum alloy body and chassis, the model adopts an active air suspension, dual motors and a four-wheel drive. With NIO's family design language, the ES8 features an X-Bar front end and heartbeat-curve taillights. What's more, the new model provides battery swap mode, which will be an excellent experience for customer. Finished a road test of 2,000,000km worldwide, the ES8 will be mass produced by the end of this year and will be delivered in the first half of next year.

Founded in 2014, NIO is a global EV start-up with thousands of world-class R&D and design experts from around the world with significant technology and management background from leading automobile and high tech companies. NIO has 19 subsidiaries worldwide, such as in San Jose, Shanghai, Munich and London.

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