Nio’s EV-Making Partner Puts Factory, Other Assets Up for Sale

Anhui Jianghuai Automobile Group Corp., which makes electric vehicles for US-listed Nio Inc., is selling a car factory and other assets worth an estimated 4.5 billion yuan ($615 million).

Some assets are from two manufacturing facilities that produce Nio EVs and started operating in 2018 and 2022, China Securities Journal reported.

Anhui Jianghuai said in a stock exchange filing that the sales, which include equipment and inventory, will help improve its asset structure and won’t affect operations. In a statement to Bloomberg News, Nio said it is aware of the situation at its partner and also added that ...