NIO has received a RMB 2.8 billion ($386 million) cash infusion from two investment firms controlled by the local governments of eastern China’s Anhui province and its capital city Hefei, where the Chinese electric vehicle maker operates its manufacturing plants, according to public information. The total amount of investment in NIO Holdings Co., Ltd., a China-based subsidiary of Nio Inc., increased from RMB 16.4 billion to RMB 19.2 billion on Feb. 28, according to Chinese business intelligence platform Tianyancha. At the same time, Hefei Jianxiang Investment Co., Ltd. and Anhui High-tech Yuwenweiyuan Technology Partnership (Limited Partnership) became new investors in NIO Holdings, with approximately 3.5% and 1.4% holdings in the company. It is unknown whether and when either the existing investors or the new ones will fully complete their investment commitment. This means that buyers of NIO and Onvo vehicles in the area now qualify for a one-time purchase subsidy of between RMB 6,000 and RMB 10,000 by the end of this month.