February 25, 2020 / 8:47 AM / a month ago

Nio in talks with Hefei govt on 10 bln yuan funding, car plants

BEIJING, Feb 25 (Reuters) - Chinese electric vehicle (EV) maker Nio Inc said it had signed framework agreements with Hefei’s city government for a fundraising of more than 10 billion yuan ($1.42 billion) and new car manufacturing facilities.

Nio is in talks with the capital city of Anhui province, where it is building cars with local automaker JAC, to build research centres and car plants. Nio will provide details in the next two months, it said.

$1 = 7.0255 Chinese yuan renminbi Reporting by Yilei Sun and Brenda Goh, editing by Louise Heavens

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