In response to previous reports that Geely will invest 300 million US dollars in Nio, Nio chairman and CEO Li Bin today denied the rumor.
But he said that on the other hand, it also means that more and more investors see the value of Nio cars.
"No matter how good it is in the eyes of outsiders, no company dares to say that it is not in a state of survival," 36Kr cited Li Bin as saying.
Li Bin acknowledged that Nio's development in the past two years has indeed encountered many challenges, but it has also withstood these challenges. "The competition in the smart electric vehicle industry is global, and we are still in the process of accumulating capabilities."
According to a WeChat account focusing on the automotive industry on Feburary 18, China's largest domestic car maker, Geely Automobile, is planning to invest in Nio. If things go as planned, the news will be announced in the near future.
Geely plans to invest about $300 million, which will account for less than 10% of Nio's shares, and is expected to become Nio's third largest shareholder, the report said.
Due to the overall shares held by co-founders including Li Bin, even if Geely shares surpassed Li Bin to become the largest shareholder, Geely still did not have the controling right in Nio. However, this move is believed to be Geely's decision to "buy the future."
In respond to the report, Yang Xueliang, vice president of Geely, said, "I don't know about it, and I don't comment on market rumors." Nio also said it cannot comment.
