BYD and NIO merger rumors denied by both parties

Recently, a piece of news about the merger between BYD and NIO has caused heated discussions on the Internet. It is said that BYD will cooperate with NIO to establish a new automobile group with a 51% stake, and acquire NIO for 16.5 billion. However, this news was denied by the top management of both parties. Ma Lin, vice president of NIO, posted a conversation with Li Yunfei, general manager of BYD's public relations department, on WeChat Moments, asking the other party to verify whether the person who posted this news is a BYD employee, and stated that if he is not a BYD employee, NIO will take legal measures. Subsequently, Li Yunfei, general manager of BYD's public relations, also publicly responded on Weibo that the news of BYD and NIO's cooperation was "serious false news."