(AOF) – Nio is expected to rise sharply after announcing this Monday that it had signed an agreement with CYVN Holdings, an investment company based in Abu Dhabi (United Arab Emirates), for an investment of $2.2 billion in its capital for 294 million new shares. The fund has already invested $738.5 million in July 2023 in the Chinese electric vehicle manufacturer: it will ultimately hold 20.1% of the capital. “We are deeply inspired by CYVN’s vision to accelerate the global transition to a more sustainable future,” says Nio.
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A French market in good shape
The French automobile market recorded its tenth consecutive month of growth in October 2023 with 152,383 registrations of new passenger vehicles (+22% year-on-year). It increased by 16.49% over the first 10 months of 2023, with 1.44 million registrations, almost as many as in 2022 (1.52 million) but much less than the level of 2019 (2.2 million ). However, the forecast indicators are not good because new orders fell by 13% at the end of September 2023. The slowdown in orders could be explained by inflation, the rise in interest rates, and more prudent management of their cash flow by companies (half of the market). If Stellantis (Peugeot, Citroën, Fiat, Opel, Jeep) remains the leader of the French market, with a market share greater than 28%, the Renault group (Renault, Dacia, Alpine) benefited from good performances in October 2023, with almost 31% additional new registrations over one year. The French group represents 24.6% of the private car market.