Nio might buy 2 factories from JAC Motor and apply for production license

The Chinese auto maker, JAC Motor, announced it will sell part of its factory assets for 4.498 billion yuan (614 million USD). The two factories refer to JAC-Nio factory and Nio factory, also known as F1 and F2 production facilities.

The company knows about the statement. The JAC's decision will not affect Nio's business and production activities. Nio will comment on the matter at the appropriate time. Before that the company would not comment on the matter, Nio replied commenting on JAC Motor's statement.

However, local media reported citing an unnamed insider that Nio might be buying JAC assets and acquiring its production license. This will have a major positive impact on Nio and its long-term business and efficiency, the source added.

In 2016, Nio signed a manufacturing agreement with JAC. The next year, the F1 plant went into production.

In March 2021, Nio signed a deal with JAC to establish the joint venture company. The following month, Nio and the Anhui government jointly announced the start of construction of NeoPark. Nio's F2 factory is the first project of NeoPark, and the first model produced was the Nio ET5, which started deliveries at the end of September 2022.