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Nio boosts its registered capital to RMB 3.85 billion · TechNode


Registered capital for electric vehicle maker Nio swelled to RMB 3.85 billion (around $540 million) from a mere RMB 11 million on Tuesday, in a sign that the company’s fortunes are finally turning around after a bailout deal in April worth RMB 7 billion.

Why it matters: Just a few months ago, Nio was cutting costs to stretch its cash reserves. Now with this capital injection, the EV maker is poised for growth—monthly production capacity will surge 25% from current output to 5,000 vehicles in September.

  • Shares have been climbing for five consecutive days, gaining 6.6% on Thursday to close at $5.97, a 400% rebound from the lowest point of $1.19 in October.

Details: Nio on Tuesday increased registered capital for Nio (Anhui) Holding Ltd. to around RMB 3.85 billion from RMB 11 million, according to Chinese business research platform Tianyancha.com. It also made a series of moves to restructure its network of legal entities.

Jill Shen is Shanghai-based technology reporter. She covers Chinese mobility, autonomous vehicles, and electric cars. Connect with her via e-mail: jill.shen@technode.com or Twitter: @yushan_shen



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Written by Aakash Malu

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