Geely to buy 30% stake in Nio’s battery-swapping unit for $95 million
Bloomberg reports the deal is valued at 640 million yuan and would support the cash-intensive battery-swapping technology Nio has spearheaded.
TLDR
Bloomberg reports Geely will buy a 30% stake in rival electric carmaker Nio’s battery-swapping unit for 640 million yuan ($95 million). The deal would support a cash-intensive technology Nio has spearheaded.
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