NIO Capital and Joy Capital to invest Uxin in a $315m deal.

Two private equity companies NIO Capital and Joy Capital agreed to invest Uxin, a nationwide online used car dealer in China, in a $315m deal. “The used car market has exponential growth potential in China. As one of the leading online used car dealers in China, Uxin relies on a one-stop business model to provide car buyers nationwide with high quality vehicles and comprehensive after-sales services. Uxin has effectively tackled critical problems that affect traditional dealers. We believe Uxin will continue to lead the development of the domestic used car market and help transform the industry to new heights of quality and reliability,” William Bin Li, NIO Capital Chairman and Managing Partner.