Chinese EV automaker NIO has confirmed that a holding firm backed by the Abu Dhabi government is investing close to $740 million dollars in exchange for new Class A shares in the company. As a new minority shareholder, NIO intends to jointly pursue new global business opportunities and accelerate growth in new markets outside of China.
NIO Inc ($NIO) remains one of the leading EV innovators in its native China, and like many of its competitors, has ventured into new markets like Europe to garner a larger piece of the growing global market.
We’ve watched the automaker ship its lineup of EVs to new markets in Germany, Norway, and Denmark, complete with battery swap stations to support its new customers. Additionally, we’ve seen NIO tease plans for a new EV sub-brand coming to Europe.
All the while, the automaker is developing and implementing innovative battery technologies with the help of behemoths in the space like CATL. NIO CEO William Li has spoken quite candidly in the past about the company’s goal of becoming a top-five-selling automaker by 2030, which includes internal plans to enter the US market by 2025.
As NIO looks to expand further into a globally recognize EV brand, it requires financial peace of mind to bolster its balance sheet and ensure it has the funding to support such ambitious growth this decade. With the help of an Abu Dhabi government fund, NIO appears to have found the cash it seeks in exchange for a minority stake of new company shares.
NIO’s new ET5 Touring/ Source: NIO Inc.
NIO issues ordinary shares to Abu Dhabi fund for $740M
NIO shared that it signed a new share subscription with Abu Dhabi investment firm CYVN Holdings today that totals $738.5 million in cash in exchange for 84,695,543 shares of NIO’s Class A ordinary shares at a purchase price of $8.72 each.
CYVN Holdings investment firm majority-owned by the Abu Dhabi government focused on deploying capital “in smart and advanced mobility solutions to create value and accelerate the transition to a more sustainable future.”
Additionally, NIO shared that the Abu Dhabi owned fund is also in the process of a share purchase agreement with an affiliate of Tencent (an existing NIO shareholder of NIO) to purchase and another 40,137,614 shares of NIO’s Class A ordinary shares. If and when approved, Abu Dhabi’s CYVN Holdings will own about 7% of NIO’s total issued and outstanding shares. NIO founder and CEO William Li spoke:
The strategic investments from CYVN Holdings demonstrate NIO’s unique values in the smart electric vehicle industry. The Investment Transaction will further strengthen our balance sheet to power our continuous endeavors in accelerating business growth, driving technological innovations and building long-term competitiveness. In addition, we are excited about the prospect of partnering with CYVN Holdings to expand our international business. With the vision of Blue Sky Coming, we will continue to strive for technological breakthroughs and user experiences beyond expectations, contributing to a more sustainable future for the globe.
For reference, NIO means “a new day,” but its Chinese name, “Weilai,” means Blue Sky Coming, hence what Li is referencing above.
Following the approved closing of the fresh investment, NIO states CYVN Holdings will have the right to nominate a director to its board as long as it continues to beneficially own at least 5% of the company’s outstanding share capital. The Abu Dhabi-backed fund has also agreed not to sell, transfer, or dispose of any NIO shares for at least six months after the closing of the deal.
The pending shares transaction is subject to customary closing conditions and is expected to be completed in early July.
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The Subaru BRZ may live on as an EV after all. Subaru wants its share of the sports car market, and an electric BRZ could hit the sweet spot.
Is Subaru launching an electric BRZ?
Subaru discontinued the BRZ in Europe in 2020 after the first generation. Although its twin, the Toyota GR86, was sold until the 2024 model year, the BRZ was released as a US-only model.
In its third generation, it could return as an EV. Speaking with Autocar, Subaru’s European head, David Dello Stritto, said, “Our options are open,” hinting that the BRZ could make a comeback in electric form.
Subaru’s global EV product boss, Inoue Masahiko, confirmed an electric version of the sports car “was under consideration.” He added that Subaru has extensively looked into an EV version of the BRZ with its partner, Toyota.
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Masahiko explained that “We did consider electrifying the BRZ and GR86, but the win-win relationship is more important.” So far, “We can’t get the kind of benefits from both sides,” he added.
2026 Subaru Uncharted EV (Source: Subaru)
Subaru is already launching several new electric vehicles in Europe, including the new Uncharted, E-Outback (known as Trailseeker in the US), and an updated Solterra SUV.
Stritto said that an electric sports car will depend on the success of these models first, especially the Uncharted. According to Subaru’s European boss, the Japanese automaker feels “very positively about Subaru enthusiasts, but we need to see how Uncharted does first.”
2026 Subaru Solterra EV (Source: Subaru)
As for an “electrified” powertrain, or hybrid, Masahiko said the vehicle’s packaging “would make it difficult,” adding an EV version would be “easier” to create.
The comments come after Stritto told Autocar last week that a new entry-level EV could also be in the works. However, that will also depend on how well the Uncharted sells.
For those in the US, don’t worry – Subaru is not planning to discontinue the BRZ. If it did launch as an EV, would you consider one? It would go up against the new Hyundai IONIQ 6 N and Tesla Model 3 Performance.
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The new Nissan LEAF will arrive at dealerships this fall, and to go with it, the company has introduced a new one-stop shop for EV chargers and more.
Nissan launches new shop for EV chargers and more
Nissan says it’s “building more than electric vehicles” after launching its new “Nissan Energy Marketplace” on Thursday.
The new one-stop shop was developed in collaboration with Electrum, a leading home energy marketplace provider. Electrum has built similar platforms for other major automakers, including Tesla (in certain regions), Hyundai, and Honda.
Nissan joins in just as the new and (much) improved LEAF is about to hit US dealerships. Through the new marketplace, you can research and find EV chargers, solar panels, and battery storage options.
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With the help of Electrum’s Energy Advisors, you can compare prices from a nationwide network of contractors. You can also find local, state, and federal incentives to reduce your costs further.
The 2026 Nissan LEAF will reach US dealerships this fall. Dropping the iconic hatch design, the LEAF is now all grown up with a more crossover SUV-like profile.
Nissan launches new Nissan Energy Marketplace (Source: Nissan)
Powered by a 75 kWh liquid-cooled lithium-ion battery, the new LEAF has up to 303 miles of driving range. That’s a significant difference from the maximum 212-mile range offered on the outgoing model, which was powered by a 62 kWh battery.
2026 Nissan LEAF (Source: Nissan)
It can also recharge from 10% to 80% in as little as 35 minutes. Perhaps the best part is that the 2026 Nissan LEAF will include a built-in NACS port, enabling access to Tesla Superchargers.
Nissan has yet to reveal prices, but the new LEAF EV is expected to start in the $35,000 to $40,000 range. The new LEAF is one of ten new Nissan and Infiniti models slated to launch in North America by 2028, as the Japanese automaker seeks to revamp its brand. A new “adventure-focused” electric SUV is set to arrive around 2027, followed by a luxury Infiniti EV SUV.
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Two years after world leaders pledged to triple global renewable energy capacity by 2030, a new report shows that most countries still aren’t planning like they mean it.
Global energy think tank Ember released new data showing that national targets for renewable energy have barely budged since the COP28 climate summit in 2023. Collectively, countries are now aiming for just 7.4 terawatts (TW) of renewable energy by 2030 – that’s only a 2% increase in ambition since the agreement was signed. To hit the global tripling goal of tripling renewables by 2030, we need to reach 11 TW. Right now, we’re still on track for just a doubling.
“The purpose of a national renewables target is less so to force more renewables to be built, but rather to make sure they are built smarter,” said Dr. Katye Altieri, global electricity analyst at Ember. Setting clear goals helps governments plan where to build projects and how to best integrate them into the grid, and it helps companies invest in supply chains. What results is cheaper, more secure electricity.
Since COP28, only 22 countries have updated their renewables targets, and most of them are in the European Union. Outside the EU, just seven countries have made changes. That sluggish response highlights how most governments are still moving at their usual planning pace, despite the climate emergency.
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The world’s biggest electricity producers haven’t done much either. The US still doesn’t have a national 2030 renewables target — and with Trump’s rollback of the Inflation Reduction Act (IRA), there’s little to no chance of that happening during this administration. India’s target of 500 GW hasn’t moved, but it’s already aligned with the tripling goal. Russia has no 2030 target at all, and no plans to set one.
China is finalizing its 15th Five-Year Plan for Energy, which is expected to include a 2030 renewables target, though it’s unclear if that will be part of the plan, its nationally determined contribution (NDC), or both. South Africa is also updating its Integrated Resource Plan, which could bring a new 2030 goal.
This report lands just as countries are gearing up for COP30 in Brazil, and without urgent, ambitious target updates and a clear path to implementation, the world is set to miss the 2030 goal. That would also be a missed opportunity to boost investment, cut fossil fuel use, and build a more affordable and resilient energy system.
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