NIO sells 30% of battery swap unit to Geely at more than $2 billion

T2Covered by 1 source · first reported by Electrek at 28 Sept, 01:08 UTC

Geely is buying into NIO’s battery swap network. NIO announced definitive agreements on Sunday that hand a Geely Holding subsidiary 30% of NIO Power, the unit running its swap stations and chargers, at a post-money valuation of about RMB16 billion ($2.4 billion). Most of what Geely is paying isn’t…

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Sources

• T2NIO sells 30% of battery swap unit to Geely at more than $2 billionElectrek28 Sept, 01:08