EVsCnEVPostabout 1 hour ago
Geely Takes 30% Stake in Nio Power
4 min read
Geely will acquire a 30% stake in Nio Power, paying with its entire equity interest in battery swap unit Yiyi Power plus 640 million yuan ($94.8 million) in cash. Nio China gets 10% of Geely's Haohan Energy. The deal, signed Monday in Hangzhou, aims to cut duplicate investment and curb China's cutthroat EV competition.
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