On February 26, NextEV announced that its subsidiary NextEV Technology (Anhui) Co., Ltd. has entered into a technology licensing agreement with Forseven Limited, a subsidiary of CYVN Holdings L.L.C.Under the agreement, NIO will license Forseven to use its smart electric vehicle platform related technical information, technical solutions, software and intellectual property for the development, manufacture, sale, import and export of Forseven brand related models, and NIO will receive a certain technology license fee.
As the largest shareholder of NIO,CYVN HoldingsLast year, NIO twice raised the stakes. July 2023, CYVN Investments RSC Ltd, a unit of CYVN Holding It invested $738.5 million in NextEV and acquired a number of Class A common shares from Tencent affiliates for $350 million. It is reported that CYVN invested a total of about 1.1 billion US dollars through private placement and transfer of old shares.
At the end of December,CYVN Holdings signed a new round of share subscription agreements with NIO,making a total strategic investment of about $2.2 billion in the form of cash.At this point,in2023,NIO received a total investment of $3.3 billion from CYVN Holdings, and CYVN Holdings thus became the largest shareholder of NIO.Holdings thus became the largest shareholder of NIO.However, Li Bin, the founder,chairman and CEO of NIO,is still the real controller of NIO because he has super voting rights .In addition to financial support, in the previous cooperation, the two sides also made it clear that they would carry out strategic and technical cooperation in the international market. This technology authorization can be seen as the first step of the two sides in the international market.
Post time: Mar-01-2024