New
EnergyMore in Energy→
Geely Buys 30% Stake in NIO Power, Betting Big on Battery Swapping
Key Takeaways
- Geely Holding Group is acquiring a 30% stake in NIO Power, NIO's battery-swapping and charging station division.
- The investment combines Geely's 100% equity interest in Yiyi Power with RMB 640 million in cash.
- Yiyi Power's battery swapping business for commercial mobility services will be integrated into NIO Power.
- NIO Power will continue optimizing its swapping network for commercial fleets to support Yiyi Power's mobility business.
DE
DT Editorial Team··via cleantechnica.com