Nio Inc. (NYSE:NIO)hasentered the insurance business alongside competing Chinese EV manufacturers, a company registration filing shows. The news was reported Friday byCaixin, China's largest business daily.
Nio acquired Anhui-basedHuiding Insurance Broker Company Limitedlast December using a part-owned subsidiary calledAnhui Nio Data Technology Co Ltd., whose majority shareholder is Nio's founder and chairmanLiBin.
The news emerged as Huiding's name was just recently updated toNio Insurance Broker Company Limitedin the China business registry.
The complex ownership structure of Nio's insurance company deal mirrors a structure...
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