Nio Announces Strategic Agreements With Geely Holding Group For Battery Swapping

By Reuters News

Sept 28 (Reuters) - NIO Inc. 9866.HK:

  • ANNOUNCES STRATEGIC AGREEMENTS WITH GEELY HOLDING GROUP FOR BATTERY SWAPPING

  • GEELY HOLDING GROUP SUBSIDIARY TO SUBSCRIBE NIO POWER EQUITY WITH RMB640 MILLION CASH

  • GEELY HOLDING GROUP EQUITY IN NIO POWER SUBJECT TO POST-CLOSING ADJUSTMENTS, MINIMUM 20%

  • TRANSACTION VALUES NIO POWER AT A POST-MONEY VALUATION OF APPROXIMATELY RMB16 BILLION.

Further company coverage: 9866.HK

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