Chinese battery electric vehicle manufacturer Nio Inc announced that it had raised US$ 1.16 billion before expenses from its latest equity offering, involving the issue of 209,090,918 new Class A ordinary shares on the US stock exchange, priced at US$5.57 per share.
The company’s share price dropped sharply immediately after the shares were released on 17th September, after more than doubling in value since July. The share issue was supported by leading international banks, including Morgan Stanley, UBS Securities, and Deutsche Bank.
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Nio said it will use the new capital to fund research and development in smart EV technologies, develop new platforms and models, and further expand its global charging and battery-swapping networks. Some of the proceeds will also be used to strengthen its balance sheet. The company had CNY 27.2 billion (US$ 3.8 billion) in cash and cash equivalents at the end of the second quarter.
Nio reported a 9% year-on-year increase in revenues to CNY 19.01 billion (US$ 2.67 billion) in the second quarter of 2025, while vehicle deliveries increased by 26% to 72,056 units. Adjusted losses per share narrowed to CNY 1.85. Vehicle deliveries in the third quarter are expected to amount to between 87,000 and 91,000 units, up by between 41% and 47% year-on-year.
