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Chery Buys 10% Stake in NIO Research Unit Weiju for $10.8M

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Sig2.64Sen+2.10Env0.00Soc0.00Gov+1.35

Chery buys a 10% stake in NIO’s research unit Weiju in a $10.8 million deal, as NIO keeps a majority holding. The capital increase raises Weiju’s funding from 373.15 million to 725 million yuan, with Anhui Wenergy Capital Investment and Hefei Metalforming Intelligent Manufacturing also joining. The move supports NIO’s broader plan to involve other carmakers in its infrastructure, though it doesn’t automatically open NIO’s network to Chery.

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