Tesla rival Nio has secured a $2.2bn investment from Abu Dhabi-backed CYVN Holdings in a boost for the Chinese electric vehicle maker as Middle East groups and Beijing increasingly join forces in the clean tech transition.
The deal, which follows CYVN’s more than $1bn injection in Nio in July, will give the UAE investment vehicle 20 per cent of the Chinese group’s shares and is intended to ease worries among some anal