https://techcrunch.com/2020/04/29/ev-startup-nio-secures-1-billion-investment-from-china-entities/

Chinese electric vehicle startup Nio has secured a $1 billion investment from several state-owned companies in Hefei in return for agreeing to establish headquarters in the city’s economic development hotspot and giving up a stake in one of its business units.

The injection of capital comes from several investors, including Hefei City Construction and Investment Holding Group, CMG-SDIC Capital and Anhui Provincial Emerging Industry Investment Co.