BREAKING: Nio Buys 2 Asset Packages Sold by JAC for $442 Million

CnEVPost · Dec 5, 2023 04:01

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Nio has become the buyer of two asset packages sold by JAC in a deal valued at RMB3.158 billion ($442 million), JAC announced today.

JAC announced plans on October 19 to transfer billions of yuan worth of factory assets in three packages, including Nio's F1 and F2 plants in Hefei, Anhui province.

The three asset packages were listed on the website of the Anhui Assets and Equity Exchange on November 7, with a December 4 deadline for listing, according to documents seen by CnEVPost.

They are state-owned assets, and purchasers are required to pay the transfer price in a lump sum within five working days of the effective date of the transaction contract, according to the documents.

Following JAC's announcement in October, several local media outlets reported that Nio could acquire the assets and seek its own electric vehicle (EV) production status.

Nio did not confirm these reports at the time, but said the move by its vehicle production partner would not affect its production and operations.

Nio rumored to announce deal to buy JAC's factory assets soon

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BREAKING: Nio Buys 2 Asset Packages Sold by JAC for $442 Million

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