Abu Dhabi Places Big Bet on a Struggling Chinese EV Automaker

A Nio ES6 is displayed during the 20th Shanghai International Automobile Industry Exhibition in Shanghai on April 18, 2023. Hector RETAMAL / AFP

Chinese electric vehicle start-up Nio was recently near bankruptcy but is now on the rebound, helped in part by a sizable investment from CYVN Holdings, a smart mobility-focused investment fund majority-owned by the Abu Dhabi government.

CYVN announced on Tuesday that it will invest $738.5 million in the Chinese EV maker for what will be approximately a 7% stake in the company.

  • Get a daily email packed with the latest news and analysis from Africa, Asia, and across the Global South.
  • Read exclusive insights on the key trends shaping China’s relations across the Global South.
  • Full access to the News Feed that provides daily updates on Chinese engagement in the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Eric Olander

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3 From J-10C to Kaan? Indonesia’s Fighter Jet Deal With Turkey Shocks Chinese Military Fans
4
Indonesia Goes Nuclear, Taps China and Russia for Modular Reactors
5
Uncertainty Roils Minerals Markets
6
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths

You Might Like

Billions of New FDI Flowing Into West Africa. Where’s the Chinese Money Going?

$1.46 billion of new foreign direct investment made its way to Nigeria in the third quarter of 2020, according to new data from the National Bureau of Statistics, but very little ...

Ethiopia’s Ambassador to China Stops by the China Africa Development Fund HQ in Beijing

Chinese infrastructure financing in Africa may be down sharply compared to a few years ago, but it hasn’t stopped altogether. That might explain why Ethiopia’s envoy to China, Teshome Toga, paid a visit ...

South Africa’s Standard Bank Wants to Exit a Once-Legendary Joint Venture with Chinese Mega-Bank ICBC

Standard Bank, one of South Africa’s major banks, is looking to exit a joint venture with the Industrial and Commercial Bank of China (ICBC.) The joint venture, the London-based ICBC Standard Bank Plc ...

Chinese Automakers Look to Developing Countries to Boost Sales and Production

The war in Ukraine opened new production opportunities for Chinese automakers in Central Asia, while growing demand in Latin America and South Asia for SUVs and EVs has sparked a new sales push ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP