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Equity Bottom-Up

<ul><li>Electric-vehicle (EV) startup Nio Inc. looks set to begin building its cars independently, announcing plans to acquire two manufacturing assets shortly after a subsidiary was added to a government database for companies approved to produce vehicles.</li><li>Nio on Tuesday entered into “definitive agreements” to buy equipment and assets from two “advanced manufacturing” bases from state-owned automaker Anhui Jianghuai Automobile Group Corp. Ltd. (JAC) (<a href="https://www.smartkarma.com/600418.SH" target="_blank" rel="noopener">600418.SH</a> +1.67%) for approximately 3.16 billion yuan ($443 million), excluding tax, according to a Hong Kong Stock Exchange filing accompanying its third quarter results the same day.</li><li>JAC has been producing all of Nio’s cars on a contract basis since 2018.</li></ul>

Electric-vehicle (EV) startup Nio Inc. looks set to begin building its cars independently, announcing plans to acquire two manufacturing assets shortly after a subsidiary was added to a government database for companies approved to produce vehicles.Nio on Tuesday entered into “definitive agreements” to buy equipment and assets from two “advanced manufacturing” bases from state-owned automaker Anhui Jianghuai Automobile Group Corp. Ltd. (JAC) (600418.SH +1.67%) for approximately 3.16 billion yuan ($443 million), excluding tax, according to a Hong Kong Stock Exchange filing accompanying its third quarter results the same day.JAC has been producing all of Nio’s cars on a contract basis since 2018.

Nio Gears Up to Make Its Own EVs After Permit Approval, Equipment Purchases 

NIO

Nio Gears Up to Make Its Own EVs After Permit Approval, Equipment Purchases