NIO Inc. surged 9% in pre-market trading, securing a new round of strategic investment from the Middle East worth $2.2 billion.

NIO-SW has reached a share subscription agreement with CYVN Holdings L.L.C. CYVN will subscribe to 294 million newly issued Class A common shares of NIO-SW at a price of $7.50 per share, with a total value of $2.2 billion. Prior to this, CYVN had made a strategic equity investment of $738.5 million in NIO-SW. After the completion of the transaction, CYVN will hold approximately 20.1% of NIO-SW's shares. NIO-SW founder Li Bin stated that NIO-SW will continue to strengthen its brand positioning, enhance sales and service capabilities, and make long-term investments in core technologies to consolidate its leading position in the automotive industry transformation. Jassem Al Zaabi, Chairman of CYVN, stated that this investment demonstrates confidence in NIO-SW's position in the global smart electric vehicle industry and will become its long-term strategic partner.