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Trends and Insights

20 Dec 2023


Investment Secured by Tesla Rival Nio from Abu Dhabi Fund

Chinese electric vehicle maker [Nio]( has bolstered its position in the fiercely competitive EV market with a significant [$2.2 billion investment]( from an Abu Dhabi state-backed investment firm, CYVN Holdings, acquiring a 20% stake. he move symbolizes a deeper collaboration between Middle East investors and Beijing in the burgeoning clean tech industry, even as Nio faces intense competition and price cuts in the EV sector.