Pony.ai plans to set up a joint venture with Neom in Northwest Saudi Arabia to provide autonomous driving technology solutions for the region.
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Sunwoda is one of the world's largest power battery makers, and its EV battery business was valued at RMB 35.56 billion in its last funding round in June.
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Li Auto announced last June 28 that it would sell up to a total of $2 billion in ADSs on Nasdaq in an ATM stock offering program.
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Nio is considering raising about $3 billion and has approached investors from the Middle East, Bloomberg said earlier today, citing people familiar with the matter.
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Nio is considering raising about $3 billion from investors and has approached investors from the Middle East, according to Bloomberg.
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Shortly after the notes were priced, Nio purchased about $256 million aggregate principal amount of convertible senior notes due 2026 and about $244 million of convertible senior notes due 2027.
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The $500 million 2029 notes bear interest at a rate of 3.875 percent per year and the other $500 million 2030 notes at 4.625 percent.
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Nio seeks to price its 2029 notes at a coupon rate of 3.5 percent to 4.0 percent and its 2030 notes at a coupon rate of 4.25 percent to 4.75 percent, according to Bloomberg.
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Nio plans to use a portion of the net proceeds to repurchase certain existing debt securities, with the remainder to be used primarily to further strengthen its balance sheet position and for general corporate purposes.
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Avatr's post-investment valuation reached RMB 20 billion, and Nio's stake in the company dropped from 0.81 percent to 0.67 percent.
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