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.
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Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
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