Form 20-F NIO Inc. For: Dec 31

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Exhibit 4.36

Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement

This Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement (this “Amendment and Supplementary Agreement III”) is made on September 16, 2020 (the “Execution Date”) by and among:

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representative being XIE Hai and registered address at Room 424, Science and Technology Innovation Center, No. 860 Wangjiang West Road, High-tech District, Hefei City (“Anhui Sanzhong Yichuang”);

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unified social credit code of 91340111MA2RAD3M4R, and with its legal representative being LI Bin and registered address at West Susong Road and North Shenzhen Road, Economic and Technological Development District, Hefei City, Anhui Province (the “Target Company”).

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For purposes of this Amendment and Supplementary Agreement III, each of the above parties shall be referred to individually as a “Party” and collectively as the “Parties”.

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Unless otherwise provided for in this Amendment and Supplementary Agreement III, all terms used herein shall have the same meanings and interpretation rules as those provided under the Shareholders Agreement (as defined below).

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WHEREAS:

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NOW, THEREFORE, the Parties unanimously agree as follows:

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The registered capital of the Company shall be RMB 5,074,773,741.26, of which:

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The arbitral tribunal shall rule upon the costs of the parties not expressly provided for in this section.

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Unless otherwise provided herein, the validity of other terms of the Shareholders Agreement, the Amendment and Supplementary Agreement I and the Amendment and Supplementary Agreement II shall not be affected by this Amendment and Supplementary Agreement III.

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[SIGNATURE PAGES FOLLOW]

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is (the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement III to be executed as of the date first written above.

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Signature Page

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Exhibit I: Joinder Agreement

Joinder Agreement

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This Joinder Agreement (this “Joinder Agreement”) is executed and delivered by the undersigned party (the “Join in Party”) on the following date in accordance with (a) the NIO China Shareholders Agreement by and among CMG-SDIC Capital Management Co., Ltd., Anhui Provincial Emerging Industry Investment Co., Ltd., Hefei City Construction and Investment Holding (Group) Co., Ltd., NIO Inc., NIO Nextev Limited, NIO User Enterprise Limited, NIO Power Express Limited and NIO (Anhui) Holding Co., Ltd. dated as of April 29, 2020, (b) the Amendment and Supplementary Agreement to the NIO China Shareholders Agreement by and among CMG-SDIC Capital Management Co., Ltd., Advanced Manufacturing Industry Investment Fund II (Limited Partnership), Anhui Provincial Emerging Industry Investment Co., Ltd., Anhui Jintong New Energy Automobile II Fund Partnership (Limited Partnership), Hefei City Construction and Investment Holding (Group) Co., Ltd., Hefei Jianheng New Energy Automobile Investment Fund Partnership (Limited Partnership), NIO Inc., NIO Nextev Limited, NIO User Enterprise Limited, NIO Power Express Limited and NIO (Anhui) Holding Co., Ltd. dated as of June 5, 2020, (c) the Amendment and Supplementary Agreement II to the NIO China Shareholders Agreement by and among CMG-SDIC Capital Management Co., Ltd., Advanced Manufacturing Industry Investment Fund II (Limited Partnership), Anhui Provincial Emerging Industry Investment Co., Ltd., Anhui Jintong New Energy Automobile II Fund Partnership (Limited Partnership), Anhui Provincial Sanzhong Yichuang Industry Development Fund Co, Ltd., Hefei City Construction and Investment Holding (Group) Co., Ltd., Hefei Jianheng New Energy Automobile Investment Fund Partnership (Limited Partnership), NIO Inc., NIO Nextev Limited, NIO User Enterprise Limited, NIO Power Express Limited and NIO (Anhui) Holding Co., Ltd. dated as of June 18, 2020, and the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement by and among the above parties on September 16, 2020 (as amended or modified from time to time, hereinafter collectively referred to as “Shareholders Agreement”).

The Join in Party hereby agrees and acknowledges that, by execution of this Joinder Agreement, the Join in Party shall be deemed to be a Party to the Shareholders Agreement as of the date of this Joinder Agreement, and shall have all of the rights and obligations of ______ under the Shareholders Agreement, as if it had executed the Shareholders Agreement as an original signatory party of the Shareholders Agreement.  The Join in Party fully accepts, as of the date of this Joinder Agreement, and agrees to be bound by, all terms and conditions contained in the Shareholders Agreement.

This Joinder Agreement shall be deemed as a part of the Shareholders Agreement, and shall, together with the Shareholders Agreement, constitute one single agreement among the Parties to the Shareholders Agreement (including but not limited to the Join in Party).

IN WITNESS WHEREOF, the Join in Party has caused this Joinder Agreement to be duly executed by its duly authorized representative as of the following date.

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Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement - Exhibit I

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Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement - Exhibit I

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Exhibit 4.37

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Amendment and Supplementary Agreement IV to the NIO China Shareholders
Agreement

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This Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement (this “Amendment and Supplementary Agreement IV”) is made on September 25, 2020 (the “Execution Date”) by and among:

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representative being XIE Hai and registered address at Room 424, Science and Technology Innovation Center, No. 860 Wangjiang West Road, High-tech District, Hefei City (“Anhui Sanzhong Yichuang”);

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unified social credit code of 91340111MA2RAD3M4R, and with its legal representative being LI Bin and registered address at West Susong Road and North Shenzhen Road, Economic and Technological Development District, Hefei City, Anhui Province (the “Target Company”).

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For purposes of this Amendment and Supplementary Agreement IV, each of the above parties shall be referred to individually as a “Party” and collectively as the “Parties”.

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Unless otherwise provided for in this Amendment and Supplementary Agreement IV, all terms used herein shall have the same meanings and interpretation rules as those provided under the Shareholders Agreement (as defined below).

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WHEREAS:

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Supplementary Agreement II, and purchased the Target Company’s registered capital of RMB 437,062,937.06 (8.612% of the total registered capital of the Target Company). After the completion of the transaction, Jianheng New Energy Fund holds 8.612% of the registered capital of the Target Company in total and NIO HK holds 58.645% of the registered capital of the Target Company in total; SDIC, Advanced Manufacturing Industry Investment Fund, Anhui High-tech Co., New Energy Automobile Fund, Hefei Investor, Jianheng New Energy Fund, Anhui Sanzhong Yichuang, NIO Parties and Target Company entered into the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement (“Amendment and Supplementary Agreement III”) to make specific amendments and supplements to certain terms of the Shareholders Agreement, the Amendment and Supplementary Agreement I and the Amendment and Supplementary Agreement II; and

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NOW, THEREFORE, the Parties unanimously agree as follows:

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“As a well-known company producing smart electric motor vehicles, NIO Inc.,  with its headquarters in China, is listed on the New York Stock Exchange of the United States, and indirectly holds equity interests in the domestic operating entities through the NIO HK Holding Platforms.  The domestic operating entities of NIO Inc. mainly include NIO Co., Ltd., Shanghai NIO Sales and Services Co., Ltd. and NIO Energy Investment (Hubei) Co., Ltd. and other companies indirectly controlled by NIO Inc. under the aforesaid PRC domestic operating entities, and mainly engage in the Main Businesses (as defined below).”

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“Pursuant to the Equity Purchase Agreement entered into by and between Jianheng New Energy Fund and NIO HK dated as of September 16, 2020, NIO HK exercised the redemption right of the NIO Parties under the NIO China Shareholders Agreement dated as of April 29, 2020, the Amendment and Supplementary Agreement to the NIO China Shareholders Agreement dated as of June 5, 2020 and the Amendment and Supplementary Agreement II to the NIO China Shareholders Agreement dated as of June 18, 2020, to purchase the Target Company’s registered capital of RMB 437,062,937.06 from Jianheng New Energy Fund, representing 8.612% of the Target Company’s total registered capital.  Pursuant to Capital Increase Agreement entered into by and between the relevant parties and NIO HK on September 25, 2020, NIO HK is to exercise the NIO Capital Increase Right under the NIO China Shareholders Agreement dated as of April 29, 2020 to unilaterally subscribe to the newly increased registered capital of the Target Company at the price of capital increase in cash as provided under the Shareholders Agreement by investing an amount of no more than USD 600,000,000 in cash. Upon completion of the foregoing transaction, the Target Company’s registered capital will be RMB 5,816,927,587.41, of which NIO HK holds 63.921% of the Target Company’s registered capital in total.”

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“The Parties intend to make arrangements in terms of corporate governance of the Target Company, and rights and obligations of the Parties through this Agreement.”

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The definitions in Clause 1.1 of the Shareholders Agreement shall be deleted:

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The registered capital of the Company shall be RMB 5,816,927,587.41, of which:

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501,881,188.84 shall be contributed in the form of equity interests in Shanghai NIO Sales and Services Co., Ltd.;

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“Without prior written consent of the Investors, the Target Company shall not issue any new shares or increase its registered capital that may result in dilution of the percentage of the Investors’ shareholding or equity interest in any form prior to the Qualified IPO of the Target Company.”

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Unless otherwise provided herein, the validity of other terms of the Shareholders Agreement, the Amendment and Supplementary Agreement I, the Amendment and Supplementary Agreement II and the Amendment and Supplementary Agreement III shall not be affected by this Amendment and Supplementary Agreement IV.

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[SIGNATURE PAGES FOLLOW]

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This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is (the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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(This is the Signature Page to the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement)

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IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement IV to be executed as of the date first written above.

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Signature Page

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Exhibit I: Joinder Agreement

Joinder Agreement

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This Joinder Agreement (this “Joinder Agreement”) is executed and delivered by the undersigned party (the “Join in Party”) on the following date in accordance with (a) the NIO China Shareholders Agreement by and among CMG-SDIC Capital Management Co., Ltd., Anhui Provincial Emerging Industry Investment Co., Ltd., Hefei City Construction and Investment Holding (Group) Co., Ltd., NIO Inc., NIO Nextev Limited, NIO User Enterprise Limited, NIO Power Express Limited and NIO (Anhui) Holding Co., Ltd. dated as of April 29, 2020, (b) the Amendment and Supplementary Agreement to the NIO China Shareholders Agreement by and among CMG-SDIC Capital Management Co., Ltd., Advanced Manufacturing Industry Investment Fund II (Limited Partnership), Anhui Provincial Emerging Industry Investment Co., Ltd., Anhui Jintong New Energy Automobile II Fund Partnership (Limited Partnership), Hefei City Construction and Investment Holding (Group) Co., Ltd., Hefei Jianheng New Energy Automobile Investment Fund Partnership (Limited Partnership), NIO Inc., NIO Nextev Limited, NIO User Enterprise Limited, NIO Power Express Limited and NIO (Anhui) Holding Co., Ltd. dated as of June 5, 2020, (c) the Amendment and Supplementary Agreement II to the NIO China Shareholders Agreement by and among CMG-SDIC Capital Management Co., Ltd., Advanced Manufacturing Industry Investment Fund II (Limited Partnership), Anhui Provincial Emerging Industry Investment Co., Ltd., Anhui Jintong New Energy Automobile II Fund Partnership (Limited Partnership), Anhui Provincial Sanzhong Yichuang Industry Development Fund Co, Ltd., Hefei City Construction and Investment Holding (Group) Co., Ltd., Hefei Jianheng New Energy Automobile Investment Fund Partnership (Limited Partnership), NIO Inc., NIO Nextev Limited, NIO User Enterprise Limited, NIO Power Express Limited and NIO (Anhui) Holding Co., Ltd. dated as of June 18, 2020, the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement entered into by and among the above parties dated as of September 16, 2020 and the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement entered into by and among the above parties dated as of September 25, 2020 (as amended or modified from time to time, hereinafter collectively referred to as “Shareholders Agreement”).

The Join in Party hereby agrees and acknowledges that, by execution of this Joinder Agreement, the Join in Party shall be deemed to be a Party to the Shareholders Agreement as of the date of this Joinder Agreement, and shall have all of the rights and obligations of ______ under the Shareholders Agreement, as if it had executed the Shareholders Agreement as an original signatory party of the Shareholders Agreement.  The Join in Party fully accepts, as of the date of this Joinder Agreement, and agrees to be bound by, all terms and conditions contained in the Shareholders Agreement.

This Joinder Agreement shall be deemed as a part of the Shareholders Agreement, and shall, together with the Shareholders Agreement, constitute one single agreement among the Parties to the Shareholders Agreement (including but not limited to the Join in Party).

IN WITNESS WHEREOF, the Join in Party has caused this Joinder Agreement to be duly executed by its duly authorized representative as of the following date.

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Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement - Exhibit I

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Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement - Exhibit I

Exhibit 4.38

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Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement

This Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement (this “Amendment and Supplementary Agreement V”) is made on January 26, 2021 (the “Execution Date”) by and among:

(1)    CMG-SDIC Capital Management Co., Ltd., a limited liability company duly established and existing under the Laws of the People’s Republic of China (“PRC” or “China”, for the purpose of this Amendment and Supplementary Agreement V, excluding the Hong Kong Special Administrative Region, the Macao Special Administrative Region and Taiwan), holding a business license with unified social credit code of 91130600MA094UG35F, and with its legal representative being GAO Guohua, and registered office at North Dong Ao Wei Road, Luosa Avenue, Rongcheng County, Baoding City, Hebei Province (“SDIC”);

(2)    Advanced Manufacturing Industry Investment Fund II (Limited Partnership), a limited liability partnership duly established and existing under the Laws of the PRC, holding a business license with unified social credit code of 91320191MA1YK7YA6J, and with its executive partner being CMG-SDIC Capital Management Co., Ltd. and registered office at Room 1380, Fuying Building, No. 99 Tuanjie Road, Research and Innovation Park, Jiangbei New District, Nanjing City (“Advanced Manufacturing Industry Investment Fund”);

(3)    Anhui Provincial Emerging Industry Investment Co., Ltd., a limited liability company duly established and existing under the Laws of the PRC, holding a business license with unified social credit code of 9134000032543101X1, and with its legal representative being HUANG Linmu and registered address at Room 301, Innovation Building, No. 860 West Wangjiang Road, High-tech District, Hefei City, Anhui Province (“Anhui High-tech Co.”)

(4)    Anhui Jintong New Energy Automobile II Fund Partnership (Limited Partnership), a limited liability partnership duly established and existing under the Laws of the PRC, holding a business license with unified social credit code of 91340800MA2UE54B3J, and with its executive partner being Anhui Jintong New Energy II Investment Management Partnership (Limited Partnership) and registered office at Room 616-1, Building#1, Zhumeng New Zone, No. 188 Wenyuan Road, Yixiu District, Anqing City, Anhui Province (“New Energy Automobile Fund”);

(5)    Anhui Provincial Sanzhong Yichuang Industry Development Fund Co., Ltd., a limited liability company duly established and existing under the Laws of China, with unified social credit code of 91340100MA2NUJ2A1H, and with its legal

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representative being XIE Hai and registered address at Room 424, Science and Technology Innovation Center, No. 860 Wangjiang West Road, High-tech District, Hefei City (“Anhui Sanzhong Yichuang”);

(6)    Hefei Construction Investment Holdings (Group) Co., Ltd., a limited liability company duly established and existing under the Laws of the PRC, holding a business license with unified social credit code of 91340100790122917R, and with its legal representative being LI Hongzhuo and registered address at No. 229 Wuhan road, Binhu New District, Hefei City (the “Hefei Investor”);

(7)    Hefei Jianheng New Energy Automobile Investment Fund Partnership (Limited Partnership), a limited liability partnership duly established and existing under the Laws of the PRC, holding a business license with unified social credit code of 91340111MA2UU69EX8, and with its executive partner being Hefei Xinping Investment Management Co., Ltd. and registered address at Room 101, 1^st Floor, Area G, Intelligent Equipment Technology Park, No. 3963 Susong Road, Economic and Technological Development Zone, Hefei City, Anhui Province (“Jianheng New Energy Fund”);

(8)    NIO Inc., a company duly established and validly existing under the Laws of the Cayman Islands, with its registered address at PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands, and currently listed on the New York Stock Exchange of the United States (NYSE: NIO) (“NIO Inc.”);

(9)    NIO Nextev Limited, a private company limited by shares duly organized and validly existing under the Laws of Hong Kong Special Administrative Region of the PRC, with its company number of 2199750, and registered office at 30^th Floor, Jardine House, Once Connaught Place, Central, Hong Kong (“NIO HK”);

(10)  NIO User Enterprise Limited, a private company limited by shares duly organized and validly existing under the laws of Hong Kong Special Administrative Region of the PRC, with its company number of 2487823 and registered office at 30^th Floor, Jardine House, Once Connaught Place, Central, Hong Kong (“UE HK”);

(11)  NIO Power Express Limited, a private company limited by shares duly organized and validly existing under the Laws of Hong Kong Special Administrative Region of the PRC, with its company number of 2472480 and registered office at 30^th Floor, Jardine House, Once Connaught Place, Central, Hong Kong (“PE HK”, together with NIO HK, UE HK and NIO Inc., the “NIO Parties”); and

(12)  NIO Holding Co., Ltd., a limited liability company duly established and duly existing under the Laws of the PRC, holding a business license with unified social

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credit code of 91340111MA2RAD3M4R, and with its legal representative being LI Bin and registered address at West Susong Road and North Shenzhen Road, Economic and Technological Development District, Hefei City, Anhui Province (the “Target Company”).

For purposes of this Amendment and Supplementary Agreement V, each of the above parties shall be referred to individually as a “Party” and collectively as the “Parties”.

Unless otherwise provided for in this Amendment and Supplementary Agreement V, all terms used herein shall have the same meanings and interpretation rules as those provided under the Shareholders Agreement (as defined below).

WHEREAS:

(a)     SDIC, Anhui High-tech Co., the Hefei Investor, the NIO Parties and the Target Company have entered into the NIO China Investment Agreement (the “Investment Agreement”) and the NIO China Shareholders Agreement (the “Shareholders Agreement”) dated as of April 29, 2020;

(b)     SDIC, Advanced Manufacturing Industry Investment Fund, Anhui High-tech Co., New Energy Automobile Fund, the Hefei Investor, Jianheng New Energy Fund, NIO Parties and the Target Company have entered into the Amendment and Supplementary Agreement to the NIO China Shareholders Agreement dated as of June 5, 2020 (the “Amendment and Supplementary Agreement I”). Pursuant to the Amendment and Supplementary Agreement I, SDIC designates Advanced Manufacturing Industry Investment Fund, Anhui High-tech Co. designates New Energy Automobile Fund and the Hefei Investor designates Jianheng New Energy Fund to assume all or part of their respective rights and obligations under the Shareholders Agreement;

(c)     SDIC, Advanced Manufacturing Industry Investment Fund, Anhui High-tech Co., New Energy Automobile Fund, the Hefei Investor, Jianheng New Energy Fund, Anhui Sanzhong Yichuang, NIO Parties and the Target Company have entered into the Amendment and Supplementary Agreement II to the NIO China Shareholders Agreement dated as of June 18, 2020 (the “Amendment and Supplementary Agreement II”).  Pursuant to the Amendment and Supplementary Agreement II, Anhui High-tech Co. designates Anhui Sanzhong Yichuang to assume all or part of its rights and obligations under the Shareholders Agreement and the Amendment and Supplementary Agreement I;

(d)     Jianheng New Energy Fund and NIO HK entered into the Equity Purchase Agreement with NIO HK on September 16, 2020, under which, NIO HK exercised NIO Parties Redemption Right under the Shareholders Agreement, the Amendment and Supplementary Agreement I and the Amendment and

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Supplementary Agreement II, and purchased the Target Company’s registered capital of RMB 437,062,937.06; SDIC, Advanced Manufacturing Industry Investment Fund, Anhui High-tech Co., New Energy Automobile Fund, Hefei Investor, Jianheng New Energy Fund, Anhui Sanzhong Yichuang, NIO Parties and Target Company entered into the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement (the “Amendment and Supplementary Agreement III”) to make specific amendments and supplements to certain terms of the Shareholders Agreement, the Amendment and Supplementary Agreement I and the Amendment and Supplementary Agreement II;

(e)     The Target Company, the NIO Parties, Advanced Manufacturing Fund, New Energy Automobile Fund, Anhui Sanzhong Yichuang and Jianheng New Energy Fund entered into the Capital Increase Agreement dated as of September 25, 2020 under which NIO HK exercised the NIO Capital Increase Right under the Shareholders Agreement to subscribe to the Target Company’s newly increased registered capital of RMB 742,153,846.15; SDIC, Advanced Manufacturing Industry Investment Fund, Anhui High-tech Co., New Energy Automobile Fund, the Hefei Parties, Jianheng New Energy Fund, Anhui Sanzhong Yichuang, the NIO Parties and the Target Company entered into the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement (the “Amendment and Supplementary Agreement IV”) to make specific amendments and supplements to the Shareholders Agreement, the Amendment and Supplementary Agreement I, the Amendment and Supplementary Agreement II and the Amendment and Supplementary Agreement III;

(f)     The name of the Target Company was changed from NIO (Anhui) Holding Co., Ltd. to NIO Holding Co., Ltd. on October 13, 2020; and

(g)     The Parties unanimously agree to make specific amendments and supplements to certain terms of the Shareholders Agreement, the Amendment and Supplementary Agreement I, the Amendment and Supplementary Agreement II, the Amendment and Supplementary Agreement III and the Amendment and Supplementary Agreement IV in accordance with this Amendment and Supplementary Agreement V.

NOW, THEREFORE, the Parties unanimously agree as follows:

1.      The Parties unanimously agree and acknowledge that:

Pursuant to the Capital Increase and Equity Purchase Agreement entered into by and between the Target Company, the NIO Parties, Advanced Manufacturing Industry Investment Fund, New Energy Automobile Fund, Anhui Sanzhong Yichuang, Jianheng New Energy on January 26, 2021, NIO HK is to purchase

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the Target Company’s registered capital of RMB 174,825,174.83 from Jianheng New Energy Fund and the Target Company’s registered capital of RMB 17,482,517.48 from Advanced Manufacturing Industry Investment, and subscribe to the newly increased registered capital of RMB 349,650,349.65 at the subscription price of RMB 10,000,000,000 in cash or USD equivalent in cash.

2.      Article 2 of the whereas clause under the Shareholders Agreement shall be amended as follows:

“Pursuant to the Equity Purchase Agreement entered into by and between Jianheng New Energy Fund and NIO HK on September 16, 2020, NIO HK has exercised the redemption right of the NIO Parties under the NIO China Shareholders Agreement dated as of April 29, 2020, the Amendment Supplementary Agreement to the NIO China Shareholders Agreement dated as of June 5, 2020 and the Amendment and Supplementary Agreement II to the NIO China Shareholders Agreement dated as of June 18, 2020, to purchase the Target Company’s registered capital of RMB 437,062,937.06 from Jianheng New Energy Fund.

Pursuant to Capital Increase Agreement entered into by and between the relevant parties and NIO HK on September 25, 2020, NIO HK has exercised NIO Capital Increase Right under the NIO China Shareholders Agreement dated as of April 29, 2020, to unilaterally subscribe to the Target Company’s newly increased registered capital of RMB 742,153,846.15 at the price of capital increase in cash as provided under the Shareholders Agreement by investing an amount of no more than USD 600,000,000 in cash.

Pursuant to the Capital Increase and Equity Purchase Agreement entered into by and between the relevant parties and NIO HK on January 26, 2021, NIO HK is to purchase the Target Company’s registered capital of RMB 174,825,174.83 from Jianheng New Energy Fund and the Target Company’s registered capital of RMB 17,482,517.48 from Advanced Manufacturing Industry Investment, and subscribe to the newly increased registered capital of RMB 349,650,349.65 at the subscription price of RMB 10,000,000,000 in cash or USD equivalent in cash.”

3.      Certain definition in the Shareholders Agreement shall be amended as follows:

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4.      Clause 3.1 of the Shareholder Agreement “Basic Information of the Target Company” shall be amended as follows:

“3.1.1   In accordance with the applicable PRC Laws, the Shareholders agree to hold the equity interests in the Target Company jointly pursuant to the terms and conditions of this Agreement.

3.1.2     The name of the Target Company in Chinese shall be “蔚来控股有限公司”.

3.1.3     The name of the Target Company in English shall be “NIO Holding Co., Ltd.”.

3.1.2     The registered address of the Target Company shall be West Susong Road and North Shenzhen Road, Economic and Technological Development District, Hefei City, Anhui Province.”

The reference to the Chinese or English names of the Target Company in the Shareholder Agreement, the Amendment and Supplementary Agreement I, the Amendment and Supplementary Agreement II, the Amendment and Supplementary Agreement III and the Amendment and Supplementary Agreement IV shall be amended correspondingly.

5.      Section 5.1 of the Shareholders Agreement “Registered Capital” shall be amended as follows:

“The registered capital of the Target Company shall be RMB 6,166,577,937.06, of which:

5.1.1   NIO HK shall subscribe to RMB 4,260,205,090.16, representing 69.085% of the registered capital of the Target Company, of which, RMB 285,220,279.73 shall be contributed in cash in RMB, RMB 2,293,891,006.40 shall be contributed in the form of equity interests in NIO Co., Ltd. (both have been paid up as of the Execution Date hereof); RMB 239,639,258.59 shall be contributed in the form of intellectual property rights, which has not been paid up as of the Execution Date hereof yet; the remaining RMB 1,441,454,545.44 shall

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be contributed in the form of RMB in cash or USD equivalent in cash, of which RMB 1,091,804,195.79 has been paid up as of the Execution Date hereof and the remaining RMB 349,650,349.65 shall be paid up by the prescribed date under the NIO Parties Capital Increase and Equity Purchase Agreement;

5.1.2   UE HK shall subscribe to RMB 1,252,136,433.60, representing 20.305% of the registered capital of the Target Company, of which RMB 5,500,000 shall be contributed in cash in RMB, RMB 744,755,244.76 shall be contributed in cash in USD equivalent and the remaining RMB 501,881,188.84 shall be contributed in the form of equity interests in Shanghai NIO Sales and Services Co., Ltd. All the foregoing contributions have been paid up as of the Execution Date hereof;

5.1.3   PE HK shall subscribe to RMB 59,830,818.88, representing 0.970% of the registered capital of the Target Company, which shall be contributed in the form of equity interests in NIO Energy Investment (Hubei) Co., Ltd. and has been paid up as of the Execution Date hereof;

5.1.4   Advanced Manufacturing Industry Investment Fund shall subscribe to RMB 157,342,657.35, representing 2.552% of the registered capital of the Target Company, which shall be contributed in cash in RMB and has been paid up as of the Execution Date hereof;

5.1.5   Anhui Sanzhong Yichuang shall subscribe to RMB 139,860,139.86, representing 2.268% of the registered capital of the Target Company, which shall be contributed in cash in RMB and has been paid up as of the Execution Date hereof;

5.1.6   New Energy Automobile Fund shall subscribe to RMB 34,965,034.97, representing 0.567% of the registered capital of the Target Company, which shall be contributed in cash in RMB and has been paid up as of the Execution Date hereof;

5.1.7   Jianheng New Energy Fund shall subscribe to RMB 262,237,762.24, representing 4.253% of the registered capital of the Target Company, which shall be contributed in cash in RMB and has been paid up as of the Execution Date hereof.”

6.      The table in Clause 5.2.1 of the Shareholders Agreement shall be amended as follows:

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7.      Exhibit I to the Shareholders Agreement shall be replaced by Exhibit I to this Amendment and Supplementary Agreement V.

8.      This Amendment and Supplementary Agreement V shall be governed by, and construed in accordance with the laws of the PRC.

9.      Any dispute, controversy, difference or claim arising out of or relating to this Amendment and Supplementary Agreement V shall be resolved by the Parties in dispute through amicable consultation.  If the Parties fail to resolve such dispute within sixty (60) days of the date of the written notice given by a Party to the relevant other Parties indicating the existence of the dispute or requesting the

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commencement of negotiation, any Party may refer the dispute to the China International Economic and Trade Arbitration Commission (“CIETAC”) for arbitration in Beijing in accordance with the arbitration rules of CIETAC effective at the time of application for arbitration.  The arbitration proceedings shall be conducted in Chinese.  The arbitration tribunal shall consist of three (3) arbitrators to be appointed in accordance with the arbitration rules.  The applicant and the respondent shall each appoint one (1) arbitrator, and the two (2) arbitrators so appointed by the parties shall agree upon the third arbitrator or the CIETAC shall appoint the third arbitrator.  The arbitration award shall be final and binding on the parties to the arbitration.  The losing Party shall be liable for the costs of the arbitration, all costs and expenses of the arbitration proceedings and all costs and expenses in relation to the enforcement of any arbitral award.  The arbitral tribunal shall rule upon the costs of the parties not expressly provided for in this section.

10.     This Amendment and Supplementary Agreement V shall come into force and become binding on the Parties upon the execution by the legal representatives, authorized signatories or the respective authorized representatives and the affixation of their respective company chops. The sequence of priority of the Shareholders Agreement, the Amendment and Supplementary Agreement I, the Amendment and Supplementary Agreement II, the Amendment and Supplementary Agreement III, the Amendment and Supplementary Agreement IV and this Amendment and Supplementary Agreement V shall be:

(1)  this Amendment and Supplementary Agreement V;

(2)  the Amendment and Supplementary Agreement IV;

(3)  the Amendment and Supplementary Agreement III;

(4)  the Amendment and Supplementary Agreement II;

(5)  the Amendment and Supplementary Agreement I;

(6)  Shareholders Agreement.

For any matter not mentioned herein, the Amendment and Supplementary Agreement I, the Amendment and Supplementary Agreement II, the Amendment and Supplementary Agreement III and the Amendment and Supplementary Agreement IV shall prevail; for matters not mentioned in the Amendment and Supplementary Agreement I, the Amendment and Supplementary Agreement II, the Amendment and Supplementary Agreement III and the Amendment and Supplementary Agreement IV, the Shareholders Agreement shall prevail.

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Unless otherwise provided herein, the validity of other terms of the Shareholders Agreement, the Amendment and Supplementary Agreement I, the Amendment and Supplementary Agreement II, the Amendment and Supplementary Agreement III and the Amendment and Supplementary Agreement IV shall not be affected by this Amendment and Supplementary Agreement V.

11.     This Amendment and Supplementary Agreement V shall be written in Chinese and be executed in thirteen (13) originals, each of which shall have the same legal effect.  Each Party shall hold one (1) original.

[SIGNATURE PAGES FOLLOW]

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(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is (the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

(This is the Signature Page to the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement)

IN WITNESS WHEREOF, the Parties have caused this Amendment and Supplementary Agreement V to be executed as of the date first written above.

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Signature Page

Exhibit I: Joinder Agreement

Joinder Agreement

This Joinder Agreement (this “Joinder Agreement”) is executed and delivered by the undersigned party (the “Join in Party”) on the following date in accordance with (a) the NIO China Shareholders Agreement by and among CMG-SDIC Capital Management Co., Ltd., Anhui Provincial Emerging Industry Investment Co., Ltd., Hefei City Construction and Investment Holding (Group) Co., Ltd., NIO Inc., NIO Nextev Limited, NIO User Enterprise Limited, NIO Power Express Limited and NIO (Anhui) Holding Co., Ltd. dated as of April 29, 2020, (b) the Amendment and Supplementary Agreement to the NIO China Shareholders Agreement by and among CMG-SDIC Capital Management Co., Ltd., Advanced Manufacturing Industry Investment Fund II (Limited Partnership), Anhui Provincial Emerging Industry Investment Co., Ltd., Anhui Jintong New Energy Automobile II Fund Partnership (Limited Partnership), Hefei City Construction and Investment Holding (Group) Co., Ltd., Hefei Jianheng New Energy Automobile Investment Fund Partnership (Limited Partnership), NIO Inc., NIO Nextev Limited, NIO User Enterprise Limited, NIO Power Express Limited and NIO Holding Co., Ltd. dated as of June 5, 2020, (c) the Amendment and Supplementary Agreement II to the NIO China Shareholders Agreement by and among CMG-SDIC Capital Management Co., Ltd., Advanced Manufacturing Industry Investment Fund II (Limited Partnership), Anhui Provincial Emerging Industry Investment Co., Ltd., Anhui Jintong New Energy Automobile II Fund Partnership (Limited Partnership), Anhui Provincial Sanzhong Yichuang Industry Development Fund Co, Ltd., Hefei City Construction and Investment Holding (Group) Co., Ltd., Hefei Jianheng New Energy Automobile Investment Fund Partnership (Limited Partnership), NIO Inc., NIO Nextev Limited, NIO User Enterprise Limited, NIO Power Express Limited and NIO Holding Co., Ltd. dated as of June 18, 2020, the Amendment and Supplementary Agreement III to the NIO China Shareholders Agreement entered into by and among the above parties dated as of September 16, 2020, the Amendment and Supplementary Agreement IV to the NIO China Shareholders Agreement entered into by and among the above parties dated as of September 25, 2020, and the Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement entered into by and among the above parties dated as of January 26, 2021 (as amended or modified from time to time, hereinafter collectively referred to as “Shareholders Agreement”).

The Join in Party hereby agrees and acknowledges that, by execution of this Joinder Agreement, the Join in Party shall be deemed to be a Party to the Shareholders Agreement as of the date of this Joinder Agreement, and shall have all of the rights and obligations of ______ under the Shareholders Agreement, as if it had executed the Shareholders Agreement as an original signatory party of the Shareholders Agreement.  The Join in Party fully accepts, as of the date of this Joinder Agreement, and agrees to be bound by, all terms and conditions contained in the Shareholders Agreement.

This Joinder Agreement shall be deemed as a part of the Shareholders Agreement, and shall, together with the Shareholders Agreement, constitute one single agreement among the Parties to the Shareholders Agreement (including but not limited to the Join in Party).

IN WITNESS WHEREOF, the Join in Party has caused this Joinder Agreement to be duly executed by its duly authorized representative as of the following date.

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Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement - Exhibit I

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Amendment and Supplementary Agreement V to the NIO China Shareholders Agreement - Exhibit I

Exhibit 4.39

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EXECUTION VERSION

NIO Inc.

and

Deutsche Bank Trust Company Americas, as Trustee

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INDENTURE

dated as of January 15, 2021

US$750,000,000 0.00% CONVERTIBLE SENIOR NOTES DUE 2026

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