Nio Hefei

When Hefei invested in Nio, it did a lot of research and analysis before making the decision, according to local media.

The city of Hefei in central China saved Nio from the brink of death early last year, after which the company shifted a lot of its business to the region. Now, it's setting up a new company there.

This is the first time we have seen Anhui offer support to Nio in a provincial document after its capital city Hefei, where Nio China is headquartered, offered support to the company.

The establishment of the new company in Hefei will facilitate Nio's local operations, including recruitment and research and development. It is also the latest move by the company to increase its bet in Hefei.

After the opening of the first second-generation battery swap station in Hefei, Nio is about to have a busy day.

It's a world-class industrial park that involves research and development, manufacturing, lifestyle services, and automotive culture, Li said.

Chinese electric carmaker Nio recently bought back and increased its stake in Nio China at a total cost of RMB 15.5 billion ($2.4 billion), which was seen by some as a move to prepare for Nio China's IPO. However, Nio has denied this.

Chinese electric vehicle maker Nio said today it entered into an agreement to purchase 3.305% of Nio China's stake for RMB 5.5 billion from two of the minority strategic investors that invested in Nio China in April 2020.

Nio announced on Thursday that it entered into an agreement with the municipal government of Hefei, Anhui province, where Nio China's headquarters is located, to jointly build a “world-class” smart electric vehicle industrial campus.

Nio may build a new plant in Hefei, next to the existing JAC Nio plant, according to a recent government document.