Nio’s EV-Making Partner Puts Factory, Other Assets Up for Sale
- Anhui Jianghuai produces vehicles for Shanghai-based Nio
- Loss-making Nio has sought funds from Middle Eastern investors
A Nio Inc. ET7 sedan at a dealership in Shanghai, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Anhui Jianghuai Automobile Group Corp., which makes electric vehicles for US-listed Nio Inc., is selling a car factory and other assets worth an estimated 4.5 billion yuan ($615 million).
Some assets are from two manufacturing facilities that produce Nio EVs and started operating in 2018 and 2022, China Securities Journal reported.