On May 19, according to Fenghuang, news and company documents disclosed by people familiar with the matter showed that NIO invested in a start-up company that is developing nuclear fusion technology, further betting on other areas of the energy industry.
The new company, called Neo Fusion, will research and develop technologies aimed at bringing controlled fusion technology to global commercial use within 20 years, the people said. Financial details in company registration documents show Neo Fusion has a registered capital of 5 billion yuan ($723.37 million), of which 50 percent is held by energy companies and investment institutions owned by the Anhui provincial government.
NIO invested 995 million yuan for a 19.9 percent stake in Neo Fusion, according to documents. NIO Capital, an investment company founded by NIO CEO Li Bin, invested 505 million yuan to obtain a 10.1% stake.
NIO said in a statement on Friday: “NIO has not forgotten the original intention of ‘NIO has come’ (which means Blue Sky Coming in Chinese), aiming to promote the research and development and commercialization of nuclear fusion technology through financial investment in the project. “The project also plans to attract more strategic and financial investors in stages.