Chinese Nio has lost a huge investor, as the Swedish fund AMF Pension has withdrawn its investment and instead threw the money into another Chinese brand.
The Swedish pension fund AMF Pension has lost huge sums on investments in the Chinese car brand Nio, which otherwise denies having disappeared from Denmark.
But now the pension fund will no longer stand as a model for parts of the wild loss. Specifically, a third of the investment corresponding to 32 million Danish kroner is withdrawn.
The money that the pension fund has spent on Nio, which loses DKK 120,000 per electric car that leaves the assembly line must be used on another car brand from China.
On Friday last week, the pension fund thus increased its stake in Polestar. However, according to press manager for AMF, Jens Söderblom, as quoted by Carup , the investment is not due to a conscious choice.
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Instead, it must be seen in the context of the fact that Volvo Cars sent more shares to the market in the spring, when they otherwise handed over control of Polestar to the parent group Geely.
The market immediately reacted positively to the news of the takeover. And for the first time in a very long time, Polestar's stock sent above the one dollar in value required for the brand's IPO to even be justified.
However, on Monday of this week, Polestar's value fell below one dollar again. At the same time, the brand is getting ready for massive layoffs. Read more about it here .
Nine, on the other hand, does not do much better. Despite a higher share price of 4.6 dollars, the overall value has only fallen in the past 6 months.
At home, Nio has been decimated by several rounds. And finally – it was back in March – the Danish CEO was kicked out. Read more about it here .
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