EVsElectrekabout 1 hour ago
Geely Buys 30% of NIO Power
5 min read
NIO signed definitive agreements Sunday giving a Geely Holding subsidiary 30% of NIO Power, its battery swap unit, at a roughly RMB16 billion ($2.4 billion) post-money valuation. Geely contributes its Yiyi commercial swap business plus RMB640 million cash, while NIO takes 10% of Geely's charging arm. Both deals await regulatory approval.
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