EVsThe Next Webabout 2 hours ago
Nio Sells 30% Stake in Battery Swapping Arm to Geely
2 min read
Nio agreed on Monday to sell 30% of its battery swapping unit, Nio Power, to Zhejiang Geely Holding Group. Geely pays with its Yiyi Power unit plus 640 million yuan in cash, valuing Nio Power at 16 billion yuan ($2.4 billion). Nio takes 10% of Geely's Haohan Energy, and the two will connect charging networks and co-develop swapping standards.
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