Geely To Buy 30% Stake In Nio's Battery-Swapping Unit For $95 Million
Deals·2 articles across 2 outlets·◆ Primary source
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Zhejiang Geely Holding Group Co. will buy a 30% stake in rival electric carmaker Nio Inc.’s battery swapping unit for 640 million yuan ($95 million), providing support for a cash intensive technology that Nio has been spearheading.
Nio has announced definitive agreements for a strategic transaction with Geely Holding Group in battery swapping and charging businesses.
NioGeely
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“NIO Announces Definitive Agreements for Strategic Transaction with Geely Holding Group in Battery Swapping and Charging Businesses”
SEC Filing — NIO Announces Definitive Agreements for Strategic Transaction with Geely Holding Group in Battery Swapping and Charging Businesses“Zhejiang Geely Holding Group Co. will buy a 30% stake in rival electric carmaker Nio Inc.’s battery swapping unit for 640 million yuan ($95 million), providing support for a cash intensive technology that Nio has been spearheading.”
Bloomberg — Geely To Buy 30% Stake in Rival Nio’s Battery-Swapping Unit