Russia has invested in the Chinese electric vehicles developer NIO

Russia has invested in the Chinese electric vehicles developer NIO

RNS – Russian-Chinese Investment Fund [RCIF, founded by Russian Direct Investment Fund (RFPI) and China Investment Corporation (CIC)] has made an investment in NIO, the Chinese electric vehicles developer, as reported by RFPI.

The investment amount has not been disclosed.

Institutional investors from USA, Western Europe, Asia and Middle East have also invested in the company, along with RCIF.

Structures such as; Tencent, Baidu, GIC, TPG, Sequoia Capital, Hillhouse Capital etc. are amongst the shareholders of NIO.

The company is getting ready for the serial production of its first electric vehicle – the 7-seater SUV ES8. The model is expected to be put on the market next year, as stated by RFPI.