NIO is negotiating 5 billion yuan in financing, and the investor is from Wuxing District, Huzhou City, Zhejiang Province

As NIO released its new quarterly financial report, the problem of losses was once again put before NIO. In order to make up for the losses and achieve long-term development, NIO said it was negotiating a 5 billion yuan financing, and the investor this time was from Wuxing District, Huzhou City, Zhejiang Province.

To complement this investment, NIO will build a large-scale car manufacturing plant with an annual production capacity of 200,000 in Wuxing District in the future.

In September 2019, NIO released its long-delayed Q2 financial report, which showed that NIO's revenue was RMB 1.508 billion (US$206.1 million), a 7.5% decline from the previous quarter. Its losses further expanded to RMB 3.285 billion, a 25.2% increase from the previous quarter and an 83.1% increase from the previous year, exceeding the previous expectation of RMB 2.944 billion.

According to Qichacha data, NIO has not received any new financing since it received a 10 billion yuan investment from Yizhuang State Investment on May 28, 2019. The 5 billion yuan financing from Wuxing District, Huzhou City, Zhejiang Province may help NIO solve its financial crisis, but in the long run, NIO needs to reduce losses and strive for profits.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.