Asianfin--Nio Holding, the Chinese subsidiary of electric vehicle (EV) startup Nio, is set to receive a total investment of 13.3 billion yuan (US$ 1.9 billion) from state-backed investors and its parent company, Nio. Key shareholders, including Jianheng New Energy Automobile Investment Fund Partnership, Anhui Provincial Emerging Industry Investment, and CS Capital, will invest 3.3 billion yuan (US$ 470 million) to subscribe to newly issued shares of Nio China, the Shanghai-based automaker announced yesterday. Nio itself will contribute an additional 10 billion yuan as part of the private placement, though its controlling equity in Nio China will decrease slightly from 92.1 percent to 88.3 percent. “This investment not only reflects the strategic investors' strong support for the electric vehicle industry's high-quality growth but also highlights their confidence in Nio's unique value proposition and leadership in the sector,” the company said.