technology
NIO and Geely agree deal valuing NIO Power at RMB16 billion
NIO agreed to issue a 30% stake in its battery-swapping and charging subsidiary, NIO Power, to a Geely Holding Group subsidiary in exchange for a battery-swapping company and RMB640 million. The proposed transaction values NIO Power at approximately RMB16 billion and is subject to regulatory clearances and customary closing conditions.