Chinese electric vehicle maker NIO is in talks with Wuxing District of Huzhou City in east China on a funding of over 5 billion yuan ($707.1 million), and a NIO factory with annual capacity of making 200,000 units will be located in the district as part of the deal.

Tech media 36Kr learned the talk from NIO executives and Huzhou officials. CEO of NIO Li Bin responded to 36Kr that currently the company has nothing much to reveal, but it is in contact with several local governments.