Document:

EX-10.17

 Exhibit 10.17 

Loan Agreement 
 This Loan
Agreement (the “Agreement”) is made and entered into by and between the Parties below as of April 19, 2018 in Shanghai, the People’s Republic of China (“China” or the “PRC”): 

 

	 	(1)	 NIO Co., Ltd. (the “Lender”), a wholly foreign-owned enterprise, organized and existing under
the laws of the PRC, with its registered address at Room 115, No. 569 Anchi Road, Anting Town, Jiading District, Shanghai; 

  

	 	(2)	 Bin LI (the “Borrower”), a citizen of China with Identification No.: ********.

 In this Agreement, each of the Lender and the Borrower shall be hereinafter referred to as a “Party”
individually, and as the “Parties” collectively. 
 Whereas: 
  

	 	1.	 As of the date hereof, the Borrower holds 80% of equity interests in Beijing NIO Network Technology Co., Ltd.
(the “Borrower Company”). All of the equity interest now held and hereafter acquired by the Borrower in the Borrower Company shall be referred to as the “Borrower Equity Interest;” 

 

	 	2.	 The Lender agrees to provide the Borrower with a loan in the aggregate amount of RMB 8,000,000 to be used for
the purposes set forth in this Agreement. 

 After friendly consultation, the Parties agree as follows: 

 

	1	 Loan 

  

	 	1.1	 In accordance with the terms and conditions of this Agreement, the Lender agrees to provide to the Borrower a
loan in the aggregate amount of RMB 8,000,000 (the “Loan”). Once the Lender receives a notice from the Borrower requesting the provision of all or any part of the Loan during the term of this Agreement, the Lender shall within one
(1) month after receiving such notice provide that portion of Loan to the Borrower. The term of the Loan shall be the term of this Agreement. During the term of the Loan, upon occurrence of any of the following circumstances, the term of the
Loan shall accelerate and the Borrower shall immediately repay the full amount of the Loan (and any interest thereon): 

  

	 	1.1.1	 Thirty (30) days elapsed after the Borrower receives a written notice from the Lender requesting repayment
of the Loan (and all interest thereon); 

  

	 	1.1.2	 The Borrower’s death, lack, or limitation of civil capacity; 

  
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	 	1.1.3	 The Borrower ceases (for any reason) to be a shareholder of the Borrower Company or its affiliates, and the
Borrower is not an employee of the Lender, the Borrower Company or their affiliates; 

  

	 	1.1.4	 The Borrower engages in criminal act or is involved in criminal activities; 

 

	 	1.1.5	 According to the applicable laws of China, foreign investors are permitted to invest in the principal business
that is currently conducted by the Borrower Company in China, with a controlling stake and/or in the form of wholly foreign-owned enterprises, the competent government authorities of China begin to approve such investments, and the Lender elects to
exercise the exclusive option under the Exclusive Option Agreement (the “Exclusive Option Agreement”) described in this Agreement; or the Lender or the Borrower Company has violated or committed a breach of its representations, warranties,
covenants or other obligations under the Exclusive Option Agreement; 

  

	 	1.1.6	 The Borrower Company failed to obtain or renew any governmental approval or license necessary for the operation
of its core business. 

  

	 	1.2	 The Borrower agrees to accept the aforementioned Loan provided by the Lender, and hereby agrees and undertakes
to use the Loan solely for the contribution of the registered capital of the Borrower Company, or for the working capital of the Borrower Company. Without the Lender’s prior written consent, the Borrower shall not use the Loan for any purpose
other than as set forth herein. 

  

	 	1.3	 The Lender and the Borrower hereby agree and confirm that the Borrower shall repay the Loan only through the
following means (or other means approved by the Lender): by transferring the Borrower Equity Interest in whole to the Lender or the Lender’s designated persons (legal or natural persons) pursuant to the Lender’s exercise of its right to
acquire the Borrower Equity Interest under the Exclusive Option Agreement, and any proceeds from the transfer of the Borrower Equity Interest (to the extent permissible) shall be used by the Borrower to repay the Loan (principal and any interest
thereon) to the Lender or the Lender’s designated persons, in accordance with this Agreement and in the manner designated by the Lender. 

  

	 	1.4	 The Lender and the Borrower hereby agree and confirm that to the extent permitted by the applicable laws, the
Lender shall have the right (but not the obligation) to purchase or designate other persons (legal or natural persons) to purchase the Borrower Equity Interest in part or in whole at any time, at the price stipulated in the Exclusive Option
Agreement. 

  

	 	1.5	 The Borrower also undertakes to execute an irrevocable Power of Attorney (the “Power of Attorney”),
which authorizes the Lender or a legal or natural person designated by the Lender to exercise all of the Borrower’s rights as a shareholder of the Borrower Company. 

  
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	 	1.6	 When the Borrower transfers the Borrower Equity Interest to the Lender or the Lender’s designated
person(s) in accordance with the Exclusive Option Agreement, (1) in the event that the transfer price of such Borrower Equity Interest equals to or is lower than the principal of the Loan under this Agreement, the Loan under this Agreement
shall be an interest-free loan, (2) in the event that the transfer price of such Borrower Equity Interest exceeds the actual principal amount of the Loan under this Agreement, the excess over the actual principal amount shall be the interest of
the Loan under this Agreement to the extent not prohibited by the PRC laws, and all of such interest shall be repaid by the Borrower to the Lender or otherwise paid by the Borrower to the Lender’s designated person(s) through legal means within
ten (10) days after receiving the transfer price. 

  

	2	 Representations and Warranties 

 

	 	2.1	 Between the date of this Agreement and the date of termination of this Agreement, the Lender hereby makes the
following representations and warranties to the Borrower: 

  

	 	2.1.1	 The Lender is a corporation duly organized and legally existing in accordance with the laws of China;

  

	 	2.1.2	 The Lender has the legal capacity to execute and perform this Agreement. The execution and performance by the
Lender of this Agreement do not violate the Lender’s articles of association or other organizational documents, and the Lender has obtained all necessary and proper approvals and authorizations for the execution and performance of this
Agreement; and 

  

	 	2.1.3	 This Agreement constitutes the Lender’s legal, valid, and binding obligations enforceable in accordance
with its terms. 

  

	 	2.2	 Between the date of this Agreement and the date of termination of this Agreement, the Borrower hereby makes the
following representations and warranties: 

  

	 	2.2.1	 The Borrower has the legal capacity to execute and perform this Agreement. The Borrower has obtained all
necessary and proper approvals and authorizations for the execution and performance of this Agreement; 

  

	 	2.2.2	 This Agreement constitutes the Borrower’s legal, valid, and binding obligations enforceable in accordance
with its terms; and 

  

	 	2.2.3	 There are no disputes, litigations, arbitrations, administrative proceedings, or any other legal proceedings
relating to the Borrower, nor are there any potential disputes, litigations, arbitrations, administrative proceedings, or any other legal proceedings relating to the Borrower. 

  
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	3	 Borrower’s Covenants 

 

	 	3.1	 As and when he/she becomes, and for so long as he/she remains a shareholder of the Borrower Company, the
Borrower irrevocably covenants that during the term of this Agreement, the Borrower shall ensure the Borrower Company: 

  

	 	3.1.1	 to strictly abide by the provisions of the Exclusive Option Agreement and the Exclusive Business Cooperation
Agreement (the “Exclusive Business Cooperation Agreement”) to which the Borrower Company is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability of the Exclusive Option Agreement and the
Exclusive Business Cooperation Agreement. 

  

	 	3.1.2	 at the request of the Lender (or a party designated by the Lender), to execute the contracts/agreements on
business cooperation with the Lender (or a party designated by the Lender), and to strictly abide by such contracts/agreements; 

  

	 	3.1.3	 to provide the Lender with all of the information on the Borrower Company’s business operations and
financial condition at the Lender’s request; 

  

	 	3.1.4	 to immediately notify the Lender of the occurrence or possible occurrence of any litigation, arbitration, or
administrative proceedings relating to the Borrower Company’s assets, business, or income; 

  

	 	3.1.5	 at the request of the Lender, to appoint any persons designated by the Lender as the director or the executive
director of the Borrower Company; 

  

	 	3.2	 the Borrower covenants that during the term of this Agreement, he/she shall: 

 

	 	3.2.1	 endeavor to keep the Borrower Company to be engaged in its principle business and to keep the specific business
scope of its business license; 

  

	 	3.2.2	 abide by the provisions of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement (the
“Equity Interest Pledge Agreement”) and the Exclusive Option Agreement to which the Borrower is a party, perform his/her obligations under this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option
Agreement, and refrain from any action/omission that may affect the effectiveness and enforceability of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement; 

  
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	 	3.2.3	 without the prior written consent of the Lender, not sell, transfer, mortgage or dispose of in any other manner
the legal or beneficial interest in the Borrower Equity Interest, or allow the encumbrance thereon of any security interest, except in accordance with the Equity Interest Pledge Agreement, the Exclusive Option Agreement and the Power of Attorney;

  

	 	3.2.4	 ensure any shareholders’ meeting and/or the board of directors of the Borrower Company not to approve the
sale, transfer, mortgage or disposition in any other manner of any legal or beneficial interest in the Borrower Equity Interest, or allow the encumbrance thereon of any security interest, except to the Lender or the Lender’s designated person;

  

	 	3.2.5	 ensure any shareholders’ meeting and/or the board of directors of the Borrower Company not to approve the
merger or consolidation of the Borrower Company with any person, or its acquisition of or investment in any person, without the prior written consent of the Lender; 

 

	 	3.2.6	 immediately notify the Lender of the occurrence or possible occurrence of any litigation, arbitration or
administrative proceedings relating to the Borrower Company’s assets, business or revenue or relating to the Borrower Equity Interest; 

  

	 	3.2.7	 to the extent necessary to maintain his/her ownership of the Borrower Equity Interest, execute all necessary or
appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary and appropriate defense against all claims; 

 

	 	3.2.8	 without the prior written consent of the Lender, not cause the Borrower Company to sell, transfer, mortgage or
dispose of in any manner any material assets of the Borrower Company or legal or beneficial interest in the material business or revenues of the Borrower Company, or allow the encumbrance thereon of any security interest, and refrain from any
action/omission that may have a material impact on the assets, business and liabilities of the Borrower Company; 

  

	 	3.2.9	 appoint any designee of the Lender as the director or the executive director of the Borrower Company, at the
request of the Lender; 

  

	 	3.2.10	 to the extent permitted by the laws of China, at the request of the Lender at any time, promptly and
unconditionally transfer all of the Borrower Equity Interest to the Lender or the Lender’s designated representative(s) at any time, and ensure the other shareholders of the Borrower Company to waive their right of first refusal with respect to
the share transfer described in this Section; 

  
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	 	3.2.11	 to the extent permitted by the laws of China, at the request of the Lender at any time, ensure that the other
shareholders of the Borrower Company shall promptly and unconditionally transfer all of their equity interests in the Borrower Company to the Lender or the Lender’s designated representative(s) at any time, and the Borrower hereby waives
his/her right of first refusal (if any) with respect to the equity transfer by such other shareholders described in this Section; 

  

	 	3.2.12	 in the event that the Lender purchases the Borrower Equity Interest from the Borrower in accordance with the
provisions of the Exclusive Option Agreement, use such purchase price obtained thereby to repay the Loan (and any interest thereon) to the Lender; and 

  

	 	3.2.13	 without the prior written consent of the Lender, not cause the Borrower Company to supplement, change, or amend
its articles of association in any manner, increase or decrease its registered capital or change its share capital structure in any manner. 

  

	4	 Liability for Default 

 

	 	4.1	 If the Borrower materially breaches any provision under this Agreement, or fails to perform, performs
incompletely or delays to perform any obligation under this Agreement, it shall constitute a breach under this Agreement on the part of the Borrower. The Lender is entitled to require the Borrower to rectify or take remedial measures. If the
Borrower fails to rectify or take remedial measures within ten (10) days after the Lender delivers a written notice to the Borrower and requires for rectification (or within any other reasonable period required by the Lender), the Lender is
entitled to, at its sole discretion, (1) terminate this Agreement and require the Borrower to compensate all the losses; or (2) require specific performance of the obligations of the Borrower under this Agreement and require the Borrower
to compensate all the losses. This Section shall not prejudice any other rights of the Lender under this Agreement 

  

	 	4.2	 In the event that the Borrower fails to perform the repayment obligations set forth in this Agreement, the
Borrower shall pay an overdue interest of 0.01% per day for the outstanding payment, until the day the Borrower repays the full principal of the Loan (and any interest thereon), overdue interests and other payable amounts. 

 

	5	 Notices 

 

	 	5.1	 All notices and other communications required to be given pursuant to this Agreement or otherwise given in
connection with this Agreement shall be delivered personally, or sent by registered mail, prepaid postage, a commercial courier service, facsimile transmission or email to the address of such Party set forth below. The dates on which notices shall
be deemed to have been effectively given shall be determined as follows: 

  
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	 	5.1.1	 Notices given by personal delivery shall be deemed effectively given on the date of receipt at the address set
forth below, or the date on which such notices are placed at the address set forth below 

  

	 	5.1.2	 Notices given by courier service, registered mail or prepaid postage shall be deemed effectively given on the
date of receipt, refusal or return for any reason at the address set forth below; 

  

	 	5.1.3	 Notices given by facsimile transmission shall be deemed effectively given on the date of successful
transmission to the Fax no. set forth below (as evidenced by an automatically generated confirmation of transmission). Notices given by email shall be deemed effectively given on the date of successful transmission, provided that the sending Party
has received a system message indicating successful transmission or has not received a system message within 24 hours indicating failure of delivery or return of email. 

 

	 	5.2	 Any Party may at any time change its address for notices by a notice delivered to the other Party in accordance
with the terms of this Section. 

  

	6	 Confidentiality 

The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in
connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall maintain the confidentiality of all such confidential information, and without obtaining the written consent of the other
Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is
under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders,
directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors shall be bound by the confidentiality
obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party
and such Party shall be held liable for breach of this Agreement. 
  

	7	 Governing Law and Resolution of Disputes 

 

	 	7.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of disputes shall be governed by the laws of China. 

  
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	 	7.2	 In the event of any dispute with respect to the interpretation and performance of this Agreement, the Parties
shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party may submit the relevant dispute to the Shanghai International Economic and Trade Arbitration Commission
for arbitration, in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of the arbitration shall be Shanghai. The arbitration award shall be final and binding on both Parties.

  

	 	7.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

  

	8	 Miscellaneous 

 

	 	8.1	 This Agreement shall become effective upon execution by the Parties, and shall expire upon the date of full
performance by the Parties of their respective obligations under this Agreement. 

  

	 	8.2	 Any amendment, change and supplement to this Agreement shall be made in writing by all of the Parties. Any
amendment agreement and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral part of this Agreement, and shall have equal legal validity as this Agreement. 

 

	 	8.3	 In the event that one or several of the provisions of this Agreement are held to be invalid, illegal or
unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good
faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law the intentions of the Parties, and the economic effect of such effective provisions shall be as
close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

  

	 	8.4	 The attachments (if any) to this Agreement shall be an integral part of this Agreement and shall have the same
legal validity as this Agreement. 

  

	 	8.5	 Any obligations that occur or that are due as a result of this Agreement upon the expiration or early
termination of this Agreement shall survive the expiration or early termination thereof. The provisions of Sections 4, 6, 7 and this Section 8.5 shall survive the termination of this Agreement. 

 

	 	8.6	 This Agreement shall be written in English language in two copies, each Party having one copy.

  
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 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Loan Agreement as of the date firs above written. 
  

			
	Lender:	 	NIO Co., Ltd.
		
	By:	 	     /s/ Lihong Qin

	Name:	 	Lihong QIN
	Title:	 	Legal Representative
		
	Borrower:	 	Bin LI
		
	By:	 	     /s/ Bin Li

 Loan Agreement 

This Loan Agreement (the “Agreement”) is made and entered into by and between the Parties below as of April 19, 2018 in
Shanghai, the People’s Republic of China (“China” or the “PRC”): 
  

	 	(1)	 NIO Co., Ltd. (the “Lender”), a wholly foreign-owned enterprise, organized and existing under
the laws of the PRC, with its registered address at Room 115, No. 569 Anchi Road, Anting Town, Jiading District, Shanghai; 

  

	 	(2)	 Lihong QIN (the “Borrower”), a citizen of China with Identification No.: ********.

 In this Agreement, each of the Lender and the Borrower shall be hereinafter referred to as a “Party”
individually, and as the “Parties” collectively. 
 Whereas: 
  

	 	1.	 As of the date hereof, the Borrower holds 20% of equity interests in Beijing NIO Network Technology Co., Ltd.
(the “Borrower Company”). All of the equity interest now held and hereafter acquired by the Borrower in the Borrower Company shall be referred to as the “Borrower Equity Interest;” 

 

	 	2.	 The Lender agrees to provide the Borrower with a loan in the aggregate amount of RMB 2,000,000 to be used for
the purposes set forth in this Agreement. 

 After friendly consultation, the Parties agree as follows: 

 

	1	 Loan 

  

	 	1.1	 In accordance with the terms and conditions of this Agreement, the Lender agrees to provide to the Borrower a
loan in the aggregate amount of RMB 2,000,000 (the “Loan”). Once the Lender receives a notice from the Borrower requesting the provision of all or any part of the Loan during the term of this Agreement, the Lender shall within one
(1) month after receiving such notice provide that portion of Loan to the Borrower. The term of the Loan shall be the term of this Agreement. During the term of the Loan, upon occurrence of any of the following circumstances, the term of the
Loan shall accelerate and the Borrower shall immediately repay the full amount of the Loan (and any interest thereon): 

  

	 	1.1.1	 Thirty (30) days elapsed after the Borrower receives a written notice from the Lender requesting repayment
of the Loan (and all interest thereon); 

  

	 	1.1.2	 The Borrower’s death, lack, or limitation of civil capacity; 

  
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	 	1.1.3	 The Borrower ceases (for any reason) to be a shareholder of the Borrower Company or its affiliates, and the
Borrower is not an employee of the Lender, the Borrower Company or their affiliates; 

  

	 	1.1.4	 The Borrower engages in criminal act or is involved in criminal activities; 

 

	 	1.1.5	 According to the applicable laws of China, foreign investors are permitted to invest in the principal business
that is currently conducted by the Borrower Company in China, with a controlling stake and/or in the form of wholly foreign-owned enterprises, the competent government authorities of China begin to approve such investments, and the Lender elects to
exercise the exclusive option under the Exclusive Option Agreement (the “Exclusive Option Agreement”) described in this Agreement; or the Lender or the Borrower Company has violated or committed a breach of its representations, warranties,
covenants or other obligations under the Exclusive Option Agreement; 

  

	 	1.1.6	 The Borrower Company failed to obtain or renew any governmental approval or license necessary for the operation
of its core business. 

  

	 	1.2	 The Borrower agrees to accept the aforementioned Loan provided by the Lender, and hereby agrees and undertakes
to use the Loan solely for the contribution of the registered capital of the Borrower Company, or for the working capital of the Borrower Company. Without the Lender’s prior written consent, the Borrower shall not use the Loan for any purpose
other than as set forth herein. 

  

	 	1.3	 The Lender and the Borrower hereby agree and confirm that the Borrower shall repay the Loan only through the
following means (or other means approved by the Lender): by transferring the Borrower Equity Interest in whole to the Lender or the Lender’s designated persons (legal or natural persons) pursuant to the Lender’s exercise of its right to
acquire the Borrower Equity Interest under the Exclusive Option Agreement, and any proceeds from the transfer of the Borrower Equity Interest (to the extent permissible) shall be used by the Borrower to repay the Loan (principal and any interest
thereon) to the Lender or the Lender’s designated persons, in accordance with this Agreement and in the manner designated by the Lender. 

  

	 	1.4	 The Lender and the Borrower hereby agree and confirm that to the extent permitted by the applicable laws, the
Lender shall have the right (but not the obligation) to purchase or designate other persons (legal or natural persons) to purchase the Borrower Equity Interest in part or in whole at any time, at the price stipulated in the Exclusive Option
Agreement. 

  

	 	1.5	 The Borrower also undertakes to execute an irrevocable Power of Attorney (the “Power of Attorney”),
which authorizes the Lender or a legal or natural person designated by the Lender to exercise all of the Borrower’s rights as a shareholder of the Borrower Company. 

  
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	 	1.6	 When the Borrower transfers the Borrower Equity Interest to the Lender or the Lender’s designated
person(s) in accordance with the Exclusive Option Agreement, (1) in the event that the transfer price of such Borrower Equity Interest equals to or is lower than the principal of the Loan under this Agreement, the Loan under this Agreement
shall be an interest-free loan, (2) in the event that the transfer price of such Borrower Equity Interest exceeds the actual principal amount of the Loan under this Agreement, the excess over the actual principal amount shall be the interest of
the Loan under this Agreement to the extent not prohibited by the PRC laws, and all of such interest shall be repaid by the Borrower to the Lender or otherwise paid by the Borrower to the Lender’s designated person(s) through legal means within
ten (10) days after receiving the transfer price. 

  

	2	 Representations and Warranties 

 

	 	2.1	 Between the date of this Agreement and the date of termination of this Agreement, the Lender hereby makes the
following representations and warranties to the Borrower: 

  

	 	2.1.1	 The Lender is a corporation duly organized and legally existing in accordance with the laws of China;

  

	 	2.1.2	 The Lender has the legal capacity to execute and perform this Agreement. The execution and performance by the
Lender of this Agreement do not violate the Lender’s articles of association or other organizational documents, and the Lender has obtained all necessary and proper approvals and authorizations for the execution and performance of this
Agreement; and 

  

	 	2.1.3	 This Agreement constitutes the Lender’s legal, valid, and binding obligations enforceable in accordance
with its terms. 

  

	 	2.2	 Between the date of this Agreement and the date of termination of this Agreement, the Borrower hereby makes the
following representations and warranties: 

  

	 	2.2.1	 The Borrower has the legal capacity to execute and perform this Agreement. The Borrower has obtained all
necessary and proper approvals and authorizations for the execution and performance of this Agreement; 

  

	 	2.2.2	 This Agreement constitutes the Borrower’s legal, valid, and binding obligations enforceable in accordance
with its terms; and 

  

	 	2.2.3	 There are no disputes, litigations, arbitrations, administrative proceedings, or any other legal proceedings
relating to the Borrower, nor are there any potential disputes, litigations, arbitrations, administrative proceedings, or any other legal proceedings relating to the Borrower. 

  
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	3	 Borrower’s Covenants 

 

	 	3.1	 As and when he/she becomes, and for so long as he/she remains a shareholder of the Borrower Company, the
Borrower irrevocably covenants that during the term of this Agreement, the Borrower shall ensure the Borrower Company: 

  

	 	3.1.1	 to strictly abide by the provisions of the Exclusive Option Agreement and the Exclusive Business Cooperation
Agreement (the “Exclusive Business Cooperation Agreement”) to which the Borrower Company is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability of the Exclusive Option Agreement and the
Exclusive Business Cooperation Agreement. 

  

	 	3.1.2	 at the request of the Lender (or a party designated by the Lender), to execute the contracts/agreements on
business cooperation with the Lender (or a party designated by the Lender), and to strictly abide by such contracts/agreements; 

  

	 	3.1.3	 to provide the Lender with all of the information on the Borrower Company’s business operations and
financial condition at the Lender’s request; 

  

	 	3.1.4	 to immediately notify the Lender of the occurrence or possible occurrence of any litigation, arbitration, or
administrative proceedings relating to the Borrower Company’s assets, business, or income; 

  

	 	3.1.5	 at the request of the Lender, to appoint any persons designated by the Lender as the director or the executive
director of the Borrower Company; 

  

	 	3.2	 the Borrower covenants that during the term of this Agreement, he/she shall: 

 

	 	3.2.1	 endeavor to keep the Borrower Company to be engaged in its principle business and to keep the specific business
scope of its business license; 

  

	 	3.2.2	 abide by the provisions of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement (the
“Equity Interest Pledge Agreement”) and the Exclusive Option Agreement to which the Borrower is a party, perform his/her obligations under this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option
Agreement, and refrain from any action/omission that may affect the effectiveness and enforceability of this Agreement, the Power of Attorney, the Equity Interest Pledge Agreement and the Exclusive Option Agreement; 

  
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	 	3.2.3	 without the prior written consent of the Lender, not sell, transfer, mortgage or dispose of in any other manner
the legal or beneficial interest in the Borrower Equity Interest, or allow the encumbrance thereon of any security interest, except in accordance with the Equity Interest Pledge Agreement, the Exclusive Option Agreement and the Power of Attorney;

  

	 	3.2.4	 ensure any shareholders’ meeting and/or the board of directors of the Borrower Company not to approve the
sale, transfer, mortgage or disposition in any other manner of any legal or beneficial interest in the Borrower Equity Interest, or allow the encumbrance thereon of any security interest, except to the Lender or the Lender’s designated person;

  

	 	3.2.5	 ensure any shareholders’ meeting and/or the board of directors of the Borrower Company not to approve the
merger or consolidation of the Borrower Company with any person, or its acquisition of or investment in any person, without the prior written consent of the Lender; 

 

	 	3.2.6	 immediately notify the Lender of the occurrence or possible occurrence of any litigation, arbitration or
administrative proceedings relating to the Borrower Company’s assets, business or revenue or relating to the Borrower Equity Interest; 

  

	 	3.2.7	 to the extent necessary to maintain his/her ownership of the Borrower Equity Interest, execute all necessary or
appropriate documents, take all necessary or appropriate actions and file all necessary or appropriate complaints or raise necessary and appropriate defense against all claims; 

 

	 	3.2.8	 without the prior written consent of the Lender, not cause the Borrower Company to sell, transfer, mortgage or
dispose of in any manner any material assets of the Borrower Company or legal or beneficial interest in the material business or revenues of the Borrower Company, or allow the encumbrance thereon of any security interest, and refrain from any
action/omission that may have a material impact on the assets, business and liabilities of the Borrower Company; 

  

	 	3.2.9	 appoint any designee of the Lender as the director or the executive director of the Borrower Company, at the
request of the Lender; 

  

	 	3.2.10	 to the extent permitted by the laws of China, at the request of the Lender at any time, promptly and
unconditionally transfer all of the Borrower Equity Interest to the Lender or the Lender’s designated representative(s) at any time, and ensure the other shareholders of the Borrower Company to waive their right of first refusal with respect to
the share transfer described in this Section; 

  
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	 	3.2.11	 to the extent permitted by the laws of China, at the request of the Lender at any time, ensure that the other
shareholders of the Borrower Company shall promptly and unconditionally transfer all of their equity interests in the Borrower Company to the Lender or the Lender’s designated representative(s) at any time, and the Borrower hereby waives
his/her right of first refusal (if any) with respect to the equity transfer by such other shareholders described in this Section; 

  

	 	3.2.12	 in the event that the Lender purchases the Borrower Equity Interest from the Borrower in accordance with the
provisions of the Exclusive Option Agreement, use such purchase price obtained thereby to repay the Loan (and any interest thereon) to the Lender; and 

  

	 	3.2.13	 without the prior written consent of the Lender, not cause the Borrower Company to supplement, change, or amend
its articles of association in any manner, increase or decrease its registered capital or change its share capital structure in any manner. 

  

	4	 Liability for Default 

 

	 	4.1	 If the Borrower materially breaches any provision under this Agreement, or fails to perform, performs
incompletely or delays to perform any obligation under this Agreement, it shall constitute a breach under this Agreement on the part of the Borrower. The Lender is entitled to require the Borrower to rectify or take remedial measures. If the
Borrower fails to rectify or take remedial measures within ten (10) days after the Lender delivers a written notice to the Borrower and requires for rectification (or within any other reasonable period required by the Lender), the Lender is
entitled to, at its sole discretion, (1) terminate this Agreement and require the Borrower to compensate all the losses; or (2) require specific performance of the obligations of the Borrower under this Agreement and require the Borrower
to compensate all the losses. This Section shall not prejudice any other rights of the Lender under this Agreement 

  

	 	4.2	 In the event that the Borrower fails to perform the repayment obligations set forth in this Agreement, the
Borrower shall pay an overdue interest of 0.01% per day for the outstanding payment, until the day the Borrower repays the full principal of the Loan (and any interest thereon), overdue interests and other payable amounts. 

  
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	5	 Notices 

 

	 	5.1	 All notices and other communications required to be given pursuant to this Agreement or otherwise given in
connection with this Agreement shall be delivered personally, or sent by registered mail, prepaid postage, a commercial courier service, facsimile transmission or email to the address of such Party set forth below. The dates on which notices shall
be deemed to have been effectively given shall be determined as follows: 

  

	 	5.1.1	 Notices given by personal delivery shall be deemed effectively given on the date of receipt at the address set
forth below, or the date on which such notices are placed at the address set forth below 

  

	 	5.1.2	 Notices given by courier service, registered mail or prepaid postage shall be deemed effectively given on the
date of receipt, refusal or return for any reason at the address set forth below; 

  

	 	5.1.3	 Notices given by facsimile transmission shall be deemed effectively given on the date of successful
transmission to the Fax no. set forth below (as evidenced by an automatically generated confirmation of transmission). Notices given by email shall be deemed effectively given on the date of successful transmission, provided that the sending Party
has received a system message indicating successful transmission or has not received a system message within 24 hours indicating failure of delivery or return of email. 

 

	 	5.2	 Any Party may at any time change its address for notices by a notice delivered to the other Party in accordance
with the terms of this Section. 

  

	6	 Confidentiality 

The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in
connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall maintain the confidentiality of all such confidential information, and without obtaining the written consent of the other
Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is
under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders,
directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors shall be bound by the confidentiality
obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party
and such Party shall be held liable for breach of this Agreement. 
  

	7	 Governing Law and Resolution of Disputes 

 

	 	7.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of disputes shall be governed by the laws of China. 

  
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	 	7.2	 In the event of any dispute with respect to the interpretation and performance of this Agreement, the Parties
shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party may submit the relevant dispute to the Shanghai International Economic and Trade Arbitration Commission
for arbitration, in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of the arbitration shall be Shanghai. The arbitration award shall be final and binding on both Parties.

  

	 	7.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

  

	8	 Miscellaneous 

 

	 	8.1	 This Agreement shall become effective upon execution by the Parties, and shall expire upon the date of full
performance by the Parties of their respective obligations under this Agreement. 

  

	 	8.2	 Any amendment, change and supplement to this Agreement shall be made in writing by all of the Parties. Any
amendment agreement and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral part of this Agreement, and shall have equal legal validity as this Agreement. 

 

	 	8.3	 In the event that one or several of the provisions of this Agreement are held to be invalid, illegal or
unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good
faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law the intentions of the Parties, and the economic effect of such effective provisions shall be as
close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

  

	 	8.4	 The attachments (if any) to this Agreement shall be an integral part of this Agreement and shall have the same
legal validity as this Agreement. 

  

	 	8.5	 Any obligations that occur or that are due as a result of this Agreement upon the expiration or early
termination of this Agreement shall survive the expiration or early termination thereof. The provisions of Sections 4, 6, 7 and this Section 8.5 shall survive the termination of this Agreement. 

 

	 	8.6	 This Agreement shall be written in English language in two copies, each Party having one copy.

  
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 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Loan Agreement as of the date firs above written. 
  

			
	Lender:	 	NIO Co., Ltd.
		
	By:	 	 /s/ Lihong Qin

	Name:	 	Lihong QIN
	Title:	 	Legal Representative
		
	Borrower:	 	Lihong QIN
		
	By:	 	     /s/ Lihong QinEX-10.18

 Exhibit 10.18 

Equity Interest Pledge Agreement 

This Exclusive Interest Pledge Agreement (this “Agreement”) is executed by and among the following Parties as of April 19, 2018
in Shanghai, the People’s Republic of China (“China” or the “PRC”): 
  

	Party  A:	 NIO Co., Ltd. (hereinafter the “Pledgee”), a wholly foreign-owned enterprise, organized and
existing under the laws of the PRC, with its registered address at Room 115, No. 569 Anchi Road, Anting Town, Jiading District, Shanghai; 

  

	Party  B:	 Lihong QIN (hereinafter the “Pledgor”), a Chinese citizen with Identification No.: ********;

  

	Party  C:	 Beijing NIO Network Technology Co., Ltd., a limited liability company organized and existing under the
laws of the PRC, with its registered address at Room 112, Beijing Yuxiangqing Hotel, No. 23 Courtyard, Babaozhuang, Haidian District, Beijing. 

In this Agreement, each of the Pledgee, the Pledgor and Party C shall be hereinafter referred to as a “Party” individually, and as
the “Parties” collectively. 
 Whereas: 
  

	1.	 The Pledgor is a citizen of China who as of the date hereof holds 80% of the equity interests of Party C,
representing RMB 8,000,000 in the registered capital of Party C. Party C is a limited liability company registered in Beijing, China. Party C acknowledges the respective rights and obligations of the Pledgor and the Pledgee under this Agreement, and
intends to provide any necessary assistance in registering the Pledge; 

  

	2.	 The Pledgee is a wholly foreign-owned enterprise registered in China. The Pledgee and Party C have executed an
Exclusive Business Cooperation Agreement (as defined below); Party C, the Pledgee and the Pledgor have executed an Exclusive Option Agreement (as defined below); the Pledgor has executed a Power of Attorney (as defined below) in favor of the
Pledgee; and the Pledgee and the Pledgor have executed a Loan Agreement (as defined below) as defined below); 

  

	3.	 To ensure that Party C and the Pledgor fully perform their obligations under the Exclusive Business Cooperation
Agreement, the Exclusive Option Agreement, the Load Agreement and the Power of Attorney, the Pledgor hereby pledges to the Pledgee all of the equity interest that the Pledgor holds in Party C as security for Party C’s and the Pledgor’s
obligations under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement, the Loan Agreement and the Power of Attorney. 

To perform the provisions of the Transaction Documents (as defined below), the Parties have mutually agreed to execute this Agreement upon the
following terms. 

  
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	1.	 Definitions 

Unless otherwise provided herein, the terms below shall have the following meanings: 

 

	 	1.1	 Pledge: shall refer to the security interest granted by the Pledgor to the Pledgee pursuant to Section 2
of this Agreement, i.e., the right of the Pledgee to be paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from the auction or sale of the Equity Interest.

  

	 	1.2	 Equity Interest: shall refer to 80% equity interests in Party C currently held by the Pledgor, representing RMB
8,000,000 in the registered capital of Party C, and all of the equity interest hereafter legally acquired by the Pledgor in Party C. 

  

	 	1.3	 Term of the Pledge: shall refer to the term set forth in Section 3 of this Agreement.

  

	 	1.4	 Transaction Documents: shall refer to the Exclusive Business Cooperation Agreement executed by and between
Party C and the Pledgee on April 19, 2018, (the “Exclusive Business Cooperation Agreement”), the Exclusive Option Agreement executed by and among Party C, the Pledgee and the Pledgor on April 19, 2018, (the “Exclusive Option
Agreement”), the Loan Agreement executed by and between the Pledgee and the Pledgor on April 19, 2018, (the “Loan Agreement”), Power of Attorney executed on April 19, 2018, by the Pledgor (the “Power of Attorney”)
and any modification, amendment and restatement to the aforementioned documents. 

  

	 	1.5	 Contract Obligations: shall refer to all the obligations of the Pledgor under the Exclusive Option Agreement,
the Power of Attorney, the Loan Agreement and this Agreement; all the obligations of Party C under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement and this Agreement. 

 

	 	1.6	 Secured Indebtedness: shall refer to all the direct, indirect and derivative losses and losses of anticipated
profits, suffered by the Pledgee, incurred as a result of any Event of Default on the part of the Pledgor and/or Party C under the Transaction Documents. The amount of such losses shall be calculated based on such factors as the reasonable business
plan and profit forecast of the Pledgee, the consulting and service fees payable to the Pledgee under the Exclusive Business Cooperation Agreement, damages and relevant fees under the Transaction Documents, all expenses occurred by the Pledgee in
connection with enforcement of the Pledgor’s and/or Party C’s Contract Obligations and etc. 

  

	 	1.7	 Event of Default: shall refer to any of the circumstances set forth in Section 7 of this Agreement.

  
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	 	1.8	 Notice of Default: shall refer to the notice issued by the Pledgee in accordance with this Agreement declaring
an Event of Default. 

  

	2.	 Pledge 

  

	 	2.1	 The Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations
and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 

 

	 	2.2	 During the term of the Pledge, unless prohibited by the applicable laws and regulations, the Pledgee is
entitled to receive dividends distributed on the Equity Interest. Without the prior written consent of the Pledgee, the Pledgor shall not receive dividends distributed on the Equity Interest. Dividends received by the Pledgor on Equity Interest
after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured
Indebtedness prior and in preference to making any other payment; or (2) to the extent not prohibited by the applicable PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee in the manner permitted by
the PRC laws. 

  

	 	2.3	 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any
additional equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest, and the Parties shall enter into further equity pledge
agreement for this purpose and complete registration of the pledge of such additional equity interest. 

  

	 	2.4	 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the
Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured
Indebtedness prior and in preference to make any other payment; or (2) to the extent not prohibited by PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee in the manner permitted by the applicable PRC
laws. 

  
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	3.	 Term of the Pledge 

 

	 	3.1	 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is
registered with the relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness has been fully paid. The Pledgor and
Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity
Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC
this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the
AIC Pledge Contract, the Parties shall be bound by the provisions of this Agreement. The Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the relevant PRC laws and regulations and the
competent AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 

  

	 	3.2	 During the Term of the Pledge, in the event the Pledgor and/or Party C fails to perform the Contract
Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement. 

 

	4.	 Custody of Records for Equity Interest subject to the Pledge 

 

	 	4.1	 During the Term of the Pledge set forth in this Agreement, the Pledgor shall deliver to the Pledgee’s
custody the capital contribution certificate for the Equity Interest and the shareholders’ register containing the Pledge within one week from the execution of this Agreement. The Pledgee shall have custody of such documents during the entire
Term of the Pledge set forth in this Agreement. 

  

	5.	 Representations and Warranties of the Pledgor and Party C 

As of the execution date of this Agreement, the Pledgor and Party C hereby jointly and severally represent and warrant to the Pledgee that:

  

	 	5.1	 The Pledgor is the sole legal and beneficial owner of the Equity Interest. The Pledgee shall have the right to
dispose of and transfer the Equity Interest in accordance with the provisions set forth in this Agreement. 

  

	 	5.2	 Each of the Pledgor and Party C has the power, capacity and authority to execute and deliver this Agreement,
and to perform it/his obligations under this Agreement. This Agreement constitutes the Pledgor’s and Party C’s legal, valid and binding obligations and shall be enforceable against them in accordance with the provisions thereof.

  

	 	5.3	 Except for the Pledge, the Pledgor has not placed any security interest or other encumbrance on the Equity
Interest. 

  

	 	5.4	 The Pledgor and Party C have obtained any and all approvals and consents from the applicable government
authorities and third parties (if required) for the execution, delivery and performance of this Agreement. 

  
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	 	5.5	 The execution, delivery and performance of this Agreement will not: (i) violate any relevant PRC laws;
(ii) conflict with Party C’s articles of association or other constitutional documents; (iii) result in any breach of or constitute any default under any contract or document to which it is a party or by which it is otherwise bound;
(iv) result in any violation of any condition for the grant and/or maintenance of any permit or approval granted to any Party; or (v) cause any permit or approval granted to any Party to be suspended, cancelled or attached with additional
conditions. 

  

	6.	 Covenants of the Pledgor and Party C 

 

	 	6.1	 During the term of this Agreement, the Pledgor and Party C hereby jointly and severally covenant to the
Pledgee: 

  

	 	6.1.1	 The Pledgor shall not transfer the Equity Interest, place or permit the existence of any security interest or
other encumbrance on the Equity Interest or any portion thereof, without the prior written consent of the Pledgee, except for the performance of the Transaction Documents; Party C shall not assent to or assist in the aforesaid behaviors;

  

	 	6.1.2	 The Pledgor and Party C shall comply with and carry out all requirements under applicable laws and regulations
relating to pledge, and within five (5) days of receipt of any notice, order or recommendation issued or made by the competent authorities regarding the Pledge (if any), shall present the aforementioned notice, order or recommendation to the
Pledgee, and shall comply with the aforementioned notice, order or recommendation or submit objections and representations with respect to the aforementioned matters upon the Pledgee’s reasonable request or upon consent of the Pledgee;

  

	 	6.1.3	 Each of the Pledgor and Party C shall promptly notify the Pledgee of any event or notice received by it that
may have an impact on the Equity Interest (or any portion thereof,) as well as any event or notice received by it that may have an impact on any guarantees and obligations of the Pledgor under this Agreement or the performance of obligations of the
Pledgor under this Agreement; 

  

	 	6.1.4	 Party C shall complete the registration procedures for the extension of the operation term within three
(3) months prior to the expiration of such term to maintain the validity of this Agreement. 

  

	 	6.2	 The Pledgor agrees that the rights acquired by the Pledgee in accordance with this Agreement with respect to
the Pledge shall not be interrupted or harmed by the Pledgor or any, successors, heirs or representatives of the Pledgor or any other persons through any legal proceedings. 

  
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	 	6.3	 To protect or perfect the security interest granted by this Agreement for the Contract Obligations and Secured
Indebtedness, the Pledgor hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates, agreements, deeds and/or covenants required by the Pledgee. The Pledgor also undertakes
to perform and to cause other parties who have an interest in the Pledge to perform actions required by the Pledgee, to facilitate the exercise by the Pledgee of its rights and authority granted thereto by this Agreement, and to enter into all
relevant documents regarding ownership of Equity Interest with the Pledgee or designee(s) of the Pledgee (natural persons/legal persons). The Pledgor undertakes to provide the Pledgee within a reasonable time with all notices, the orders and
decisions regarding the Pledge that are required by the Pledgee. 

  

	 	6.4	 The Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements, representations
and conditions under this Agreement. In the event of failure or partial performance of its guarantees, promises, agreements, representations and conditions, the Pledgor shall indemnify the Pledgee for all losses resulting therefrom.

  

	7.	 Event of Breach 

 

	 	7.1	 The following circumstances shall be deemed an Event of Default: 

 

	 	7.1.1	 The Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement.

  

	 	7.1.2	 Party C’s any breach to any obligations under the Transaction Documents and/or this Agreement.

  

	 	7.2	 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned
circumstances described in Section 7.1, the Pledgor and Party C shall immediately notify the Pledgee in writing accordingly. 

  

	 	7.3	 Unless an Event of Default set forth in Section 7.1 has been successfully resolved to the Pledgee’s
satisfaction within twenty (20) days after the Pledgee and/or Party C delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgor in writing at any time thereafter,
demanding the Pledgor to immediately exercise the Pledge in accordance with the provisions of Section 8 of this Agreement. 

  

	8.	 Exercise of the Pledge 

 

	 	8.1	 The Pledgee shall issue a written Notice of Default to the Pledgor when it exercises the Pledge.

  

	 	8.2	 Subject to the provisions of Section 7.3, the Pledgee may exercise the right to enforce the Pledge at any
time after the issuance of the Notice of Default in accordance with Section 8.1. 

  
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	 	8.3	 After the Pledgee issues a Notice of Default to the Pledgor in accordance with Section 8.1, the Pledgee
may exercise any remedy measure under the applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is
converted into or from the proceeds from the auction or sale of the Equity Interest. The Pledgee shall not be liable for any loss incurred by its duly exercise of such rights and powers. 

 

	 	8.4	 The proceeds from the exercise of the Pledge by the Pledgee shall be used to pay for the taxes and expenses
incurred as a result of disposing the Equity Interest and to perform the Contract Obligations and pay the Secured Indebtedness to the Pledgee prior and in preference to any other payment. After the payment of the aforementioned amounts, the
remaining balance shall be returned to the Pledgor or any other person who have rights to such balance under applicable laws or be deposited to the local notary public office where the Pledgor resides, with all expenses incurred being borne by the
Pledgor. To the extent not prohibited by the applicable PRC laws, the Pledgor shall unconditionally donate the aforementioned proceeds to the Pledgee or any other person designated by the Pledgee in the manner permitted by the PRC laws.

  

	 	8.5	 The Pledgee may exercise any remedy measure available to it simultaneously or in any order. The Pledgee may
exercise the priority right in compensation based on the monetary valuation that such Equity Interest is converted into or with the proceeds from the auction or sale of the Equity Interest under this Agreement, without being required to exercise any
other remedy measure first. 

  

	 	8.6	 The Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf,
and the Pledgor or Party C shall not raise any objection to such exercise. 

  

	 	8.7	 When the Pledgee disposes of the Pledge in accordance with this Agreement, the Pledgor and Party C shall
provide the necessary assistance to enable the Pledgee to enforce the Pledge in accordance with this Agreement. 

  
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	9.	 Breach of Agreement 

 

	 	9.1	 If the Pledgor or Party C materially breaches any provision under this Agreement, or fails to perform, performs
incompletely or delays to perform any obligation under this Agreement, it shall constitute a breach under this Agreement on the part of the Pledgor or Party C (as the case may be). The Pledgee is entitled to require the Pledgor or Party C to rectify
or take remedial measures. If within ten (10) days after the Pledgee delivers a written notice to the Pledgor or Party C and requires for rectification (or within any other reasonable period required by the Pledgee), the Pledgor or Party C (as
the case may be) fails to rectify or take remedial measures, the Pledgee is entitled to, at its sole discretion, (1) terminate this Agreement and require the Pledgor or Party C (as the case may be) to compensate all the losses; or
(2) require specific performance of the obligations of the Pledgor or Party C (as the case may be) under this Agreement and require the Pledgor or Party C (as the case may be) to compensate all the losses. This Section shall not prejudice any
other rights of the Pledgee under this Agreement. 

  

	 	9.2	 The Pledgor or Party C shall not have any right to terminate this Agreement unilaterally in any event unless
otherwise required by the applicable laws. 

  

	10.	 Assignment 

  

	 	10.1	 Without the Pledgee’s prior written consent, neither the Pledgor nor Party C shall assign or delegate
its/his rights and obligations under this Agreement. 

  

	 	10.2	 This Agreement shall be binding on the Pledgor and his/her successors, heirs (including who inherited the
Equity Interest) and permitted assigns, and shall be valid with respect to the Pledgee and each of his/her successors, heirs and permitted assigns. 

  

	 	10.3	 At any time, the Pledgee may assign any and all of its rights and obligations under the Transaction Documents
and this Agreement to its designee(s), in which case the assignees shall have the rights and obligations of the Pledgee under the Transaction Documents and this Agreement, as if it were the original party to the Transaction Documents and this
Agreement. 

  

	 	10.4	 In the event of change of the Pledgee due to assignment, the Pledgor and/or Party C shall, at the request of
the Pledgee, execute a new pledge agreement with the new pledgee on the same terms and conditions as this Agreement, and register the same with the competent AIC. 

 

	 	10.5	 The Pledgor and Party C shall strictly abide by the provisions of this Agreement and other contracts jointly or
separately executed by the Parties hereto or any of them, including the Transaction Documents, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof. Any
remaining rights of the Pledgor with respect to the Equity Interest pledged hereunder shall not be exercised by the Pledgor except in accordance with the written instructions of the Pledgee. 

 

	11.	 Termination 

  

	 	11.1	 Upon the fulfillment of all Contract Obligations and the full payment of all Secured Indebtedness by the
Pledgor and Party C, the Pledgee shall release the Pledge under this Agreement upon the Pledgor’s request as soon as reasonably practicable and shall assist the Pledgor in de-registering the Pledge from
the shareholders’ register of Party C and with the competent PRC local administration for industry and commerce. 

  
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	 	11.2	 The provisions under Sections 9, 13, 14 and 11.2 herein of this Agreement shall survive the expiration or
termination of this Agreement. 

  

	12.	 Handling Fees and Other Expenses 

All fees and out of pocket expenses relating to this Agreement, including but not limited to legal costs, costs of production, stamp tax and
any other taxes and fees, shall be borne by Party C. 
  

	13.	 Confidentiality 

The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in
connection with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain the confidentiality of all such confidential information, and without obtaining the written consent of the other
Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is
under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders,
directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors shall be bound by the confidentiality
obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party
and such Party shall be held liable for breach of this Agreement. 
  

	14.	 Governing Law and Resolution of Disputes 

 

	 	14.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of disputes hereunder shall be governed by the laws of China. 

  

	 	14.2	 In the event of any dispute with respect to the interpretation and performance of this Agreement, the Parties
shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party may submit the relevant dispute to the Shanghai International Economic and Trade Arbitration Commission
for arbitration, in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of the arbitration shall be Shanghai. The arbitration award shall be final and binding on both Parties.

  
 9 

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	 	14.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

  

	15.	 Severability 

In the event that one or several of the provisions of this Contract are held to be invalid, illegal or unenforceable in any aspect in
accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Contract shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid,
illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the
economic effect of those invalid, illegal or unenforceable provisions. 
  

	16.	 Attachments 

The attachments set forth herein shall be an integral part of this Agreement. 

 

	17.	 Effectiveness and Amendments 

 

	 	17.1	 This Agreement shall become effective upon execution by the Parties, until the Contract Obligations have been
fully performed and the Secured Indebtedness have been fully paid. 

  

	 	17.2	 Any amendment, change and supplement to this Agreement shall be made in writing by all of the Parties. Any
amendment agreement and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral part of this Agreement, and shall have equal legal validity as this Agreement. 

 

	18.	 Language and Counterparts 

This Agreement is written in English in four copies. The Pledgor, the Pledgee and Party C shall hold one copy respectively and the other copy
shall be used for registration. 
 The Remainder of this page is intentionally left blank 

  
 10 

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 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Equity Interest Pledge Agreement as of the date first above written. 
  

			
	Pledgee: NIO Co., Ltd.
		
	By:	 	 /s/ Lihong Qin

	Name:	 	Lihong QIN
	Title:	 	Legal Representative
	
	Pledgor: Bin LI
		
	By:	 	 /s/ Bin Li

 Party  C: Beijing NIO Network Technology Co., Ltd. 

 

			
	By:	 	 /s/ Lihong Qin

	Name:	 	Lihong QIN
	Title:	 	Legal Representative

 Attachments: 
  

	1.	 Shareholders’ Register of Party C; 

 

	2.	 The Capital Contribution Certificate for Party C; 

 

	3.	 Exclusive Business Cooperation Agreement; 

 

	4.	 Exclusive Option Agreement; 

 

	5.	 Loan Agreement 

  

	6.	 Power of Attorney. 

 Equity Interest Pledge Agreement 

This Exclusive Interest Pledge Agreement (this “Agreement”) is executed by and among the following Parties as of April 19, 2018
in Shanghai, the People’s Republic of China (“China” or the “PRC”): 
  

	Party  A:	 NIO Co., Ltd. (hereinafter the “Pledgee”), a wholly foreign-owned enterprise, organized and
existing under the laws of the PRC, with its registered address at Room 115, No. 569 Anchi Road, Anting Town, Jiading District, Shanghai; 

  

	Party  B:	 Lihong QIN (hereinafter the “Pledgor”), a Chinese citizen with Identification No.: ********;

  

	Party  C:	 Beijing NIO Network Technology Co., Ltd., a limited liability company organized and existing under the
laws of the PRC, with its registered address at Room 112, Beijing Yuxiangqing Hotel, No. 23 Courtyard, Babaozhuang, Haidian District, Beijing. 

In this Agreement, each of the Pledgee, the Pledgor and Party C shall be hereinafter referred to as a “Party” individually, and as
the “Parties” collectively. 
 Whereas: 
  

	1.	 The Pledgor is a citizen of China who as of the date hereof holds 20% of the equity interests of Party C,
representing RMB 2,000,000 in the registered capital of Party C. Party C is a limited liability company registered in Beijing, China. Party C acknowledges the respective rights and obligations of the Pledgor and the Pledgee under this Agreement, and
intends to provide any necessary assistance in registering the Pledge; 

  

	2.	 The Pledgee is a wholly foreign-owned enterprise registered in China. The Pledgee and Party C have executed an
Exclusive Business Cooperation Agreement (as defined below); Party C, the Pledgee and the Pledgor have executed an Exclusive Option Agreement (as defined below); the Pledgor has executed a Power of Attorney (as defined below) in favor of the
Pledgee; and the Pledgee and the Pledgor have executed a Loan Agreement (as defined below) as defined below); 

  

	3.	 To ensure that Party C and the Pledgor fully perform their obligations under the Exclusive Business Cooperation
Agreement, the Exclusive Option Agreement, the Load Agreement and the Power of Attorney, the Pledgor hereby pledges to the Pledgee all of the equity interest that the Pledgor holds in Party C as security for Party C’s and the Pledgor’s
obligations under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement, the Loan Agreement and the Power of Attorney. 

To perform the provisions of the Transaction Documents (as defined below), the Parties have mutually agreed to execute this Agreement upon the
following terms. 

  
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	1.	 Definitions 

Unless otherwise provided herein, the terms below shall have the following meanings: 

 

	 	1.1	 Pledge: shall refer to the security interest granted by the Pledgor to the Pledgee pursuant to Section 2
of this Agreement, i.e., the right of the Pledgee to be paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is converted into or from the proceeds from the auction or sale of the Equity Interest.

  

	 	1.2	 Equity Interest: shall refer to 20% equity interests in Party C currently held by the Pledgor, representing RMB
2,000,000 in the registered capital of Party C, and all of the equity interest hereafter legally acquired by the Pledgor in Party C. 

  

	 	1.3	 Term of the Pledge: shall refer to the term set forth in Section 3 of this Agreement.

  

	 	1.4	 Transaction Documents: shall refer to the Exclusive Business Cooperation Agreement executed by and between
Party C and the Pledgee on April 19, 2018, (the “Exclusive Business Cooperation Agreement”), the Exclusive Option Agreement executed by and among Party C, the Pledgee and the Pledgor on April 19, 2018, (the “Exclusive Option
Agreement”), the Loan Agreement executed by and between the Pledgee and the Pledgor on April 19, 2018, (the “Loan Agreement”), Power of Attorney executed on April 19, 2018, by the Pledgor (the “Power of Attorney”)
and any modification, amendment and restatement to the aforementioned documents. 

  

	 	1.5	 Contract Obligations: shall refer to all the obligations of the Pledgor under the Exclusive Option Agreement,
the Power of Attorney, the Loan Agreement and this Agreement; all the obligations of Party C under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement and this Agreement. 

 

	 	1.6	 Secured Indebtedness: shall refer to all the direct, indirect and derivative losses and losses of anticipated
profits, suffered by the Pledgee, incurred as a result of any Event of Default on the part of the Pledgor and/or Party C under the Transaction Documents. The amount of such losses shall be calculated based on such factors as the reasonable business
plan and profit forecast of the Pledgee, the consulting and service fees payable to the Pledgee under the Exclusive Business Cooperation Agreement, damages and relevant fees under the Transaction Documents, all expenses occurred by the Pledgee in
connection with enforcement of the Pledgor’s and/or Party C’s Contract Obligations and etc. 

  

	 	1.7	 Event of Default: shall refer to any of the circumstances set forth in Section 7 of this Agreement.

  
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	 	1.8	 Notice of Default: shall refer to the notice issued by the Pledgee in accordance with this Agreement declaring
an Event of Default. 

  

	2.	 Pledge 

  

	 	2.1	 The Pledgor agrees to pledge all the Equity Interest as security for performance of the Contract Obligations
and payment of the Secured Indebtedness under this Agreement. Party C hereby assents that the Pledgor pledges the Equity Interest to the Pledgee pursuant to this Agreement. 

 

	 	2.2	 During the term of the Pledge, unless prohibited by the applicable laws and regulations, the Pledgee is
entitled to receive dividends distributed on the Equity Interest. Without the prior written consent of the Pledgee, the Pledgor shall not receive dividends distributed on the Equity Interest. Dividends received by the Pledgor on Equity Interest
after the deduction of individual income tax paid by the Pledgor shall be, as required by the Pledgee, (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured
Indebtedness prior and in preference to making any other payment; or (2) to the extent not prohibited by the applicable PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee in the manner permitted by
the PRC laws. 

  

	 	2.3	 The Pledgor may subscribe for a capital increase in Party C only with prior written consent of the Pledgee. Any
additional equity interest obtained by the Pledgor as a result of the Pledgor’s subscription of the increased registered capital of the Company shall also be deemed as Equity Interest, and the Parties shall enter into further equity pledge
agreement for this purpose and complete registration of the pledge of such additional equity interest. 

  

	 	2.4	 In the event that Party C is required by PRC law to be liquidated or dissolved, any interest distributed to the
Pledgor upon Party C’s dissolution or liquidation shall, upon the request of the Pledgee, be (1) deposited into an account designated and supervised by the Pledgee and used to secure the Contract Obligations and pay the Secured
Indebtedness prior and in preference to make any other payment; or (2) to the extent not prohibited by PRC laws, unconditionally donated to the Pledgee or any other person designated by the Pledgee in the manner permitted by the applicable PRC
laws. 

  
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	3.	 Term of the Pledge 

 

	 	3.1	 The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein is
registered with the relevant administration for industry and commerce (the “AIC”). The Pledge shall remain effective until all Contract Obligations have been fully performed and all Secured Indebtedness has been fully paid. The Pledgor and
Party C shall (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the execution of this Agreement, and (2) submit an application to the AIC for the registration of the Pledge of the Equity
Interest contemplated herein within 30 business days following the execution of this Agreement. The parties covenant that for the purpose of registration of the Pledge, the parties hereto and all other shareholders of Party C shall submit to the AIC
this Agreement or an equity interest pledge contract in the form required by the AIC at the location of Party C which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Contract”). For matters not specified in the
AIC Pledge Contract, the Parties shall be bound by the provisions of this Agreement. The Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the relevant PRC laws and regulations and the
competent AIC, to ensure that the Pledge of the Equity Interest shall be registered with the AIC as soon as possible after submission for filing. 

  

	 	3.2	 During the Term of the Pledge, in the event the Pledgor and/or Party C fails to perform the Contract
Obligations or pay Secured Indebtedness, the Pledgee shall have the right, but not the obligation, to exercise the Pledge in accordance with the provisions of this Agreement. 

 

	4.	 Custody of Records for Equity Interest subject to the Pledge 

 

	 	4.1	 During the Term of the Pledge set forth in this Agreement, the Pledgor shall deliver to the Pledgee’s
custody the capital contribution certificate for the Equity Interest and the shareholders’ register containing the Pledge within one week from the execution of this Agreement. The Pledgee shall have custody of such documents during the entire
Term of the Pledge set forth in this Agreement. 

  

	5.	 Representations and Warranties of the Pledgor and Party C 

As of the execution date of this Agreement, the Pledgor and Party C hereby jointly and severally represent and warrant to the Pledgee that:

  

	 	5.1	 The Pledgor is the sole legal and beneficial owner of the Equity Interest. The Pledgee shall have the right to
dispose of and transfer the Equity Interest in accordance with the provisions set forth in this Agreement. 

  

	 	5.2	 Each of the Pledgor and Party C has the power, capacity and authority to execute and deliver this Agreement,
and to perform it/his obligations under this Agreement. This Agreement constitutes the Pledgor’s and Party C’s legal, valid and binding obligations and shall be enforceable against them in accordance with the provisions thereof.

  

	 	5.3	 Except for the Pledge, the Pledgor has not placed any security interest or other encumbrance on the Equity
Interest. 

  

	 	5.4	 The Pledgor and Party C have obtained any and all approvals and consents from the applicable government
authorities and third parties (if required) for the execution, delivery and performance of this Agreement. 

  
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	 	5.5	 The execution, delivery and performance of this Agreement will not: (i) violate any relevant PRC laws;
(ii) conflict with Party C’s articles of association or other constitutional documents; (iii) result in any breach of or constitute any default under any contract or document to which it is a party or by which it is otherwise bound;
(iv) result in any violation of any condition for the grant and/or maintenance of any permit or approval granted to any Party; or (v) cause any permit or approval granted to any Party to be suspended, cancelled or attached with additional
conditions. 

  

	6.	 Covenants of the Pledgor and Party C 

 

	 	6.1	 During the term of this Agreement, the Pledgor and Party C hereby jointly and severally covenant to the
Pledgee: 

  

	 	6.1.1	 The Pledgor shall not transfer the Equity Interest, place or permit the existence of any security interest or
other encumbrance on the Equity Interest or any portion thereof, without the prior written consent of the Pledgee, except for the performance of the Transaction Documents; Party C shall not assent to or assist in the aforesaid behaviors;

  

	 	6.1.2	 The Pledgor and Party C shall comply with and carry out all requirements under applicable laws and regulations
relating to pledge, and within five (5) days of receipt of any notice, order or recommendation issued or made by the competent authorities regarding the Pledge (if any), shall present the aforementioned notice, order or recommendation to the
Pledgee, and shall comply with the aforementioned notice, order or recommendation or submit objections and representations with respect to the aforementioned matters upon the Pledgee’s reasonable request or upon consent of the Pledgee;

  

	 	6.1.3	 Each of the Pledgor and Party C shall promptly notify the Pledgee of any event or notice received by it that
may have an impact on the Equity Interest (or any portion thereof,) as well as any event or notice received by it that may have an impact on any guarantees and obligations of the Pledgor under this Agreement or the performance of obligations of the
Pledgor under this Agreement; 

  

	 	6.1.4	 Party C shall complete the registration procedures for the extension of the operation term within three
(3) months prior to the expiration of such term to maintain the validity of this Agreement. 

  

	 	6.2	 The Pledgor agrees that the rights acquired by the Pledgee in accordance with this Agreement with respect to
the Pledge shall not be interrupted or harmed by the Pledgor or any, successors, heirs or representatives of the Pledgor or any other persons through any legal proceedings. 

  
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	 	6.3	 To protect or perfect the security interest granted by this Agreement for the Contract Obligations and Secured
Indebtedness, the Pledgor hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates, agreements, deeds and/or covenants required by the Pledgee. The Pledgor also undertakes
to perform and to cause other parties who have an interest in the Pledge to perform actions required by the Pledgee, to facilitate the exercise by the Pledgee of its rights and authority granted thereto by this Agreement, and to enter into all
relevant documents regarding ownership of Equity Interest with the Pledgee or designee(s) of the Pledgee (natural persons/legal persons). The Pledgor undertakes to provide the Pledgee within a reasonable time with all notices, the orders and
decisions regarding the Pledge that are required by the Pledgee. 

  

	 	6.4	 The Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements, representations
and conditions under this Agreement. In the event of failure or partial performance of its guarantees, promises, agreements, representations and conditions, the Pledgor shall indemnify the Pledgee for all losses resulting therefrom.

  

	7.	 Event of Breach 

 

	 	7.1	 The following circumstances shall be deemed an Event of Default: 

 

	 	7.1.1	 The Pledgor’s any breach to any obligations under the Transaction Documents and/or this Agreement.

  

	 	7.1.2	 Party C’s any breach to any obligations under the Transaction Documents and/or this Agreement.

  

	 	7.2	 Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned
circumstances described in Section 7.1, the Pledgor and Party C shall immediately notify the Pledgee in writing accordingly. 

  

	 	7.3	 Unless an Event of Default set forth in Section 7.1 has been successfully resolved to the Pledgee’s
satisfaction within twenty (20) days after the Pledgee and/or Party C delivers a notice to the Pledgor requesting ratification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgor in writing at any time thereafter,
demanding the Pledgor to immediately exercise the Pledge in accordance with the provisions of Section 8 of this Agreement. 

  

	8.	 Exercise of the Pledge 

 

	 	8.1	 The Pledgee shall issue a written Notice of Default to the Pledgor when it exercises the Pledge.

  

	 	8.2	 Subject to the provisions of Section 7.3, the Pledgee may exercise the right to enforce the Pledge at any
time after the issuance of the Notice of Default in accordance with Section 8.1. 

  
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	 	8.3	 After the Pledgee issues a Notice of Default to the Pledgor in accordance with Section 8.1, the Pledgee
may exercise any remedy measure under the applicable PRC laws, the Transaction Documents and this Agreement, including but not limited to being paid in priority with the Equity Interest based on the monetary valuation that such Equity Interest is
converted into or from the proceeds from the auction or sale of the Equity Interest. The Pledgee shall not be liable for any loss incurred by its duly exercise of such rights and powers. 

 

	 	8.4	 The proceeds from the exercise of the Pledge by the Pledgee shall be used to pay for the taxes and expenses
incurred as a result of disposing the Equity Interest and to perform the Contract Obligations and pay the Secured Indebtedness to the Pledgee prior and in preference to any other payment. After the payment of the aforementioned amounts, the
remaining balance shall be returned to the Pledgor or any other person who have rights to such balance under applicable laws or be deposited to the local notary public office where the Pledgor resides, with all expenses incurred being borne by the
Pledgor. To the extent not prohibited by the applicable PRC laws, the Pledgor shall unconditionally donate the aforementioned proceeds to the Pledgee or any other person designated by the Pledgee in the manner permitted by the PRC laws.

  

	 	8.5	 The Pledgee may exercise any remedy measure available to it simultaneously or in any order. The Pledgee may
exercise the priority right in compensation based on the monetary valuation that such Equity Interest is converted into or with the proceeds from the auction or sale of the Equity Interest under this Agreement, without being required to exercise any
other remedy measure first. 

  

	 	8.6	 The Pledgee is entitled to designate an attorney or other representatives to exercise the Pledge on its behalf,
and the Pledgor or Party C shall not raise any objection to such exercise. 

  

	 	8.7	 When the Pledgee disposes of the Pledge in accordance with this Agreement, the Pledgor and Party C shall
provide the necessary assistance to enable the Pledgee to enforce the Pledge in accordance with this Agreement. 

  
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	9.	 Breach of Agreement 

 

	 	9.1	 If the Pledgor or Party C materially breaches any provision under this Agreement, or fails to perform, performs
incompletely or delays to perform any obligation under this Agreement, it shall constitute a breach under this Agreement on the part of the Pledgor or Party C (as the case may be). The Pledgee is entitled to require the Pledgor or Party C to rectify
or take remedial measures. If within ten (10) days after the Pledgee delivers a written notice to the Pledgor or Party C and requires for rectification (or within any other reasonable period required by the Pledgee), the Pledgor or Party C (as
the case may be) fails to rectify or take remedial measures, the Pledgee is entitled to, at its sole discretion, (1) terminate this Agreement and require the Pledgor or Party C (as the case may be) to compensate all the losses; or
(2) require specific performance of the obligations of the Pledgor or Party C (as the case may be) under this Agreement and require the Pledgor or Party C (as the case may be) to compensate all the losses. This Section shall not prejudice any
other rights of the Pledgee under this Agreement. 

  

	 	9.2	 The Pledgor or Party C shall not have any right to terminate this Agreement unilaterally in any event unless
otherwise required by the applicable laws. 

  

	10.	 Assignment 

  

	 	10.1	 Without the Pledgee’s prior written consent, neither the Pledgor nor Party C shall assign or delegate
its/his rights and obligations under this Agreement. 

  

	 	10.2	 This Agreement shall be binding on the Pledgor and his/her successors, heirs (including who inherited the
Equity Interest) and permitted assigns, and shall be valid with respect to the Pledgee and each of his/her successors, heirs and permitted assigns. 

  

	 	10.3	 At any time, the Pledgee may assign any and all of its rights and obligations under the Transaction Documents
and this Agreement to its designee(s), in which case the assignees shall have the rights and obligations of the Pledgee under the Transaction Documents and this Agreement, as if it were the original party to the Transaction Documents and this
Agreement. 

  

	 	10.4	 In the event of change of the Pledgee due to assignment, the Pledgor and/or Party C shall, at the request of
the Pledgee, execute a new pledge agreement with the new pledgee on the same terms and conditions as this Agreement, and register the same with the competent AIC. 

 

	 	10.5	 The Pledgor and Party C shall strictly abide by the provisions of this Agreement and other contracts jointly or
separately executed by the Parties hereto or any of them, including the Transaction Documents, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof. Any
remaining rights of the Pledgor with respect to the Equity Interest pledged hereunder shall not be exercised by the Pledgor except in accordance with the written instructions of the Pledgee. 

 

	11.	 Termination 

  

	 	11.1	 Upon the fulfillment of all Contract Obligations and the full payment of all Secured Indebtedness by the
Pledgor and Party C, the Pledgee shall release the Pledge under this Agreement upon the Pledgor’s request as soon as reasonably practicable and shall assist the Pledgor in de-registering the Pledge from
the shareholders’ register of Party C and with the competent PRC local administration for industry and commerce. 

  
 8 

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	 	11.2	 The provisions under Sections 9, 13, 14 and 11.2 herein of this Agreement shall survive the expiration or
termination of this Agreement. 

  

	12.	 Handling Fees and Other Expenses 

All fees and out of pocket expenses relating to this Agreement, including but not limited to legal costs, costs of production, stamp tax and
any other taxes and fees, shall be borne by Party C. 
  

	13.	 Confidentiality 

The Parties acknowledge that the existence and the terms of this Agreement and any oral or written information exchanged between the Parties in
connection with the preparation and performance this Agreement are regarded as confidential information. Each Party shall maintain the confidentiality of all such confidential information, and without obtaining the written consent of the other
Party, it shall not disclose any relevant confidential information to any third parties, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is
under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders,
directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors shall be bound by the confidentiality
obligations similar to those set forth in this Section. Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party
and such Party shall be held liable for breach of this Agreement. 
  

	14.	 Governing Law and Resolution of Disputes 

 

	 	14.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of disputes hereunder shall be governed by the laws of China. 

  

	 	14.2	 In the event of any dispute with respect to the interpretation and performance of this Agreement, the Parties
shall first resolve the dispute through friendly negotiations. In the event the Parties fail to reach an agreement on the dispute, either Party may submit the relevant dispute to the Shanghai International Economic and Trade Arbitration Commission
for arbitration, in accordance with the arbitration rules of such arbitration commission effective at that time. The place of the hearing of the arbitration shall be Shanghai. The arbitration award shall be final and binding on both Parties.

  
 9 

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	 	14.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any dispute, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.

  

	15.	 Severability 

In the event that one or several of the provisions of this Contract are held to be invalid, illegal or unenforceable in any aspect in
accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Contract shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid,
illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the
economic effect of those invalid, illegal or unenforceable provisions. 
  

	16.	 Attachments 

The attachments set forth herein shall be an integral part of this Agreement. 

 

	17.	 Effectiveness and Amendments 

 

	 	17.1	 This Agreement shall become effective upon execution by the Parties, until the Contract Obligations have been
fully performed and the Secured Indebtedness have been fully paid. 

  

	 	17.2	 Any amendment, change and supplement to this Agreement shall be made in writing by all of the Parties. Any
amendment agreement and supplementary agreement duly executed by the Parties hereto with regard to this Agreement shall constitute an integral part of this Agreement, and shall have equal legal validity as this Agreement. 

 

	18.	 Language and Counterparts 

This Agreement is written in English in four copies. The Pledgor, the Pledgee and Party C shall hold one copy respectively and the other copy
shall be used for registration. 
 The Remainder of this page is intentionally left blank 

  
 10 

Strictly Confidential 

 IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Equity Interest Pledge Agreement as of the date first above written. 
  

			
	Pledgee: NIO Co., Ltd.

			
		
	By:	 	 /s/ Lihong Qin

	Name:	 	Lihong QIN
	Title:	 	Legal Representative
	
	Pledgor: Lihong QIN
		
	By:	 	 /s/ Lihong Qin

Party C: Beijing NIO Network Technology Co., Ltd. 

			
		
	By:	 	 /s/ Lihong Qin_

	Name:	 	Lihong QIN
	Title:	 	Legal Representative

  

 Attachments: 
  

	1.	 Shareholders’ Register of Party C; 

 

	2.	 The Capital Contribution Certificate for Party C; 

 

	3.	 Exclusive Business Cooperation Agreement; 

 

	4.	 Exclusive Option Agreement; 

 

	5.	 Loan Agreement 

  

	6.	 Power of Attorney.

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