Chinese electric vehicle manufacturer Nio announced on Tuesday that it has reached a share subscription agreement with CYVN Holdings, an investment vehicle majority-owned by the Abu Dhabi government. As part of the strategic investment, CYVN Holdings will invest approximately $738.5 million in cash to subscribe to 84,695,543 newly issued Class A ordinary shares in Nio at a per-share purchase price of $8.72. The transaction is expected to take place in early July 2023. Additionally, CYVN Holdings has agreed to acquire 40,137,614 Class A ordinary shares of Nio from an affiliate of Tencent, bringing the total investment to over $1.1 billion. Following the completion of the transaction, the investor will possess approximately 7.0% of Nio’s total issued shares. [Nio announcement]