Chinese battery giant CATL is in talks to acquire a controlling stake in Nio’s power unit, which operates over 3,000 battery swapping stations across China. This deal highlights Nio's efforts to strengthen its position in the competitive EV market and expand its charging infrastructure.
Chinese battery giant CATL is in talks to acquire a controlling stake in Nio’s power unit, which operates over 3,000 battery swapping stations across China, sources have revealed. This proposal follows CATL's investment of up to 2.5 billion yuan ($342 million) in Nio Power earlier this year.
Nio Power, a key asset for Nio, offers charging and battery swapping services not only for Nio vehicles but also for other EV brands, including Tesla and BYD. The deal, though not yet finalised, reflects Nio’s efforts to boost its strategic position in China’s competitive EV market and to ease concerns over electric vehicles' range limitations. Nio’s battery swapping network, the largest in the world, allows drivers to swap depleted battery packs with fully charged ones in under three minutes.
While Nio has not commented on the specifics of the potential deal, it has acknowledged ongoing collaborations with CATL in building battery swapping stations. This partnership aims to create the world’s largest battery swapping network, with 10,000 stations planned in the next few years.
Nio’s growing competition in China’s auto market and its push to enhance its charging infrastructure are key drivers behind these developments.
Leaders of Türkiye, Italy and Libya met in Istanbul on Friday, pledging deeper cooperation on energy, migration and regional stability....
U.S. Secretary of State Marco Rubio has dismissed recent Western recognition of Palestine, saying a Palestinian state cannot exist without Israel’s ...
Cambodia will nominate U.S. President Donald Trump for the Nobel Peace Prize following his role in ending a deadly five-day armed conflict with Thaila...
The deadline to secure a new U.S. trade deal arrives today, potentially marking a turning point in the country’s economic strategy amid faltering mo...
Iran’s President Masoud Pezeshkian is due to start his two-day state visit to Pakistan on Saturday while the relations of the two neighboring countr...
As temperatures soared past 40°C in late July, Chongqing residents sought relief in subway stations, rivers, and bomb shelters, prompting a red alert amid record-breaking heat.
China and the United States have agreed to extend tariff pauses and deepen economic consultations following two days of trade talks in Stockholm, Chinese Vice Premier He Lifeng said on Tuesday.
At least 60 people have lost their lives in northern China over the past week due to torrential rain, with around eighteen people still missing in Chengde.
China and Russia will stage a joint naval exercise near Vladivostok in August, followed by a Pacific maritime patrol, Beijing’s defence ministry has announced.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
McDonald's plans to significantly expand its investments in artificial intelligence by 2027, with India expected to play a central role in data governance, engineering, and platform development, a senior executive said on Friday.
U.S. President Donald Trump has sharply criticised Federal Reserve Chair Jerome Powell following the central bank’s decision to keep interest rates unchanged.
Microsoft’s market capitalization surpassed $4 trillion in after-hours trading on Wednesday following a stronger-than-expected earnings report for its fiscal fourth quarter, driven by robust growth in its cloud business.
The European Commission has said it does not view imposing network fees on major technology firms as a practical solution to the ongoing debate over funding the expansion of 5G and broadband infrastructure across the bloc.
Germany’s cabinet has approved a draft 2026 budget on Wednesday featuring record investments and a borrowing level nearly three times higher than last year’s, aiming to strengthen infrastructure and defence while efforts to revive growth.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment