BUSINESS● LOWSep 28 · Sep 28, 2026, 8:00 AM
China’s Nio and Geely deepen commitment to EV battery swapping tech in stake sale
South China Morning Post · east asia
Chinese electric vehicle (EV) maker Nio has deepened its partnership with Zhejiang Geely Holding Group after agreeing to sell a stake in its battery swap subsidiary to the automotive conglomerate in a deal that values the unit at 16 billion yuan (US$2.4 billion). Geely Holding, controlled by Chinese billionaire Li Shufu, would pay 640 million yuan in cash and contribute its wholly owned battery-swapping unit Yiyi Internet Technology in exchange for a 30 per cent share in Nio Power, Nio said in a...
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