CYVN Holdings

A filing with the US SEC earlier this month showed L'imad holds a 17.9% stake in Nio.

Nio has confirmed for the first time that the company works with McLaren and has received technical service revenue from the automaker.

The battery pack will be based on Nio's in-house developed 4680 large cylindrical battery cells, with small-scale production expected to begin next year.

CYVN reached a non-binding agreement to acquire 100 percent of McLaren's automotive business from Bahrain's sovereign wealth fund Mumtalakat.

Nio MENA will introduce Nio and its sub-branded models to Middle East and North Africa markets. Nio and CYVN plan to collaborate on a new EV program involving research, manufacturing and future product launches.

Nio will grant Forseven a worldwide license to use certain of the company's existing and future technologies related to or subsisting in the company's smart EV platforms.

Nio announced changes to its board of directors, with two people appointed by CYVN Holdings joining and one person appointed by Tencent dropping out.

Nio said it and CYVN, as well as their respective subsidiaries, will continue to work closely together in pursuing strategic and technological collaborations in international markets.

At the end of February, Li's stake in Nio was 10.5 percent, with 44.2 percent of the voting rights. CYVN will hold a 20.1 percent stake in Nio after its latest investment.

CYVN will increase its stake in Nio to about 20 percent with its latest investment, after finishing a roughly $1.1 billion investment in July.