CATL, Nio Sign $346 Million Deal to Expand Battery-Swapping Grid
The world’s largest battery manufacturer, Contemporary Amperex Technology Co. Ltd., has agreed to invest up to 2.5 billion yuan ($346 million) in building out a battery-swapping network across China in collaboration with electric vehicle maker Nio Inc.
NIO said in a WeChat post on Tuesday that it signed a strategic partnership agreement with CATL to develop a battery-swapping network for passenger cars. CATL is working on a 2.5 billion yuan ...
Nio stock price has done well in the past few days as investors remain optimistic about Chinese companies. It rose to a high of $5 on Monday, and $5.45 after the company reached a battery swap deal ...
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