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.
Germany is steadily losing export market share to China within the European Union, according to a report released Monday by the KfW Development Bank.
SIPRI’s annual report, released Monday, said global military expenditure reached $2.72 trillion in 2024, a 9.4% increase from 2023 and the largest year-on-year rise since the Cold War's end. This marks the tenth straight year of growth.
China has announced that it has taken control of Sandy Cay reef, a disputed landform in the South China Sea, located just a few kilometers from a key Philippine military outpost. The reef, which China refers to as Tiexian Jiao, is also claimed by Taiwan, Vietnam, and the Philippines.
Donald Trump's cabinet members sent mixed signals on whether tariff talks with China are underway, despite Trump's claims, fueling confusion as market instability and recession fears grow amid ongoing tensions between the world’s two largest economies.
Foreign ministers from Central Asia and China gathered in Almaty, Kazakhstan, on Saturday for the sixth meeting under the Central Asia-China format, aiming to deepen regional cooperation and address shared challenges.
Germany is steadily losing export market share to China within the European Union, according to a report released Monday by the KfW Development Bank.
German President Frank-Walter Steinmeier assured NATO allies on Monday that Germany would enhance its military and infrastructure contributions to Europe's defense, in response to the ongoing war in Ukraine and growing concerns over the U.S. commitment to European security.
Singapore has directed Meta, the parent company of Facebook, to block Singaporeans' access to posts by three foreigners accused of attempting to influence the country's upcoming election along racial and religious lines.
U.S. Treasury Secretary Scott Bessent said Monday that several major U.S. trading partners had made strong proposals to avoid tariffs, and India is likely to be among the first countries to sign a trade agreement.
A major blackout across Spain and Portugal could last 6 to 10 hours, according to Red Electrica. While power is being restored in some areas, the cause of the outage remains unclear, with authorities considering the possibility of a cyberattack.
China has rolled out the world’s first 10-gigabit (10G) fixed broadband network in Xiong'an New Area, promising ultra-fast speeds and low latency through cutting-edge optical infrastructure.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
China’s pivot away from U.S. liquefied petroleum gas under new tariffs is shaking global energy flows, slashing demand, and fuelling a scramble for alternatives across Asia, with Middle Eastern suppliers and rival buyers seizing the moment.
A deadly attack targeting tourists in India’s Jammu and Kashmir territory has left at least 20 feared dead, marking the deadliest incident against civilians in the region for years, according to security sources.
In an expansive interview marking his first 100 days back in office, President Donald Trump sketched out an agenda that touches everything from punitive tariffs and China policy to cease-fire hopes in Ukraine and an overhaul of domestic programmes. Below are the highlights.
Saudi Arabia and Qatar have agreed to settle Syria's $15 million arrears with the World Bank, allowing the institution to resume grants for the country's reconstruction and support for its public sector.
IMF and World Bank meetings in Washington left global finance leaders with more questions than answers on the economic impact of U.S. tariffs. Discussions on trade and debt concerns highlighted growing uncertainty, as markets worry about the broader economic fallout.
President Donald Trump on Thursday signed an executive order aimed at boosting the deep-sea mining industry, marking his latest attempt to boost U.S. access to nickel, copper and other critical minerals used widely across the economy.
Uzbekistan and Iran have agreed to establish a Joint Business Council aimed at fostering development of business ties and facilitating the resolution of issues between entrepreneurs from both countries.
Brussels has fined Apple and Meta over €700 million combined, launching its first crackdown under the Digital Markets Act aimed at curbing big tech’s power and boosting competition in the digital economy.
Germany is steadily losing export market share to China within the European Union, according to a report released Monday by the KfW Development Bank.
German President Frank-Walter Steinmeier assured NATO allies on Monday that Germany would enhance its military and infrastructure contributions to Europe's defense, in response to the ongoing war in Ukraine and growing concerns over the U.S. commitment to European security.
Singapore has directed Meta, the parent company of Facebook, to block Singaporeans' access to posts by three foreigners accused of attempting to influence the country's upcoming election along racial and religious lines.
U.S. Treasury Secretary Scott Bessent said Monday that several major U.S. trading partners had made strong proposals to avoid tariffs, and India is likely to be among the first countries to sign a trade agreement.
A major blackout across Spain and Portugal could last 6 to 10 hours, according to Red Electrica. While power is being restored in some areas, the cause of the outage remains unclear, with authorities considering the possibility of a cyberattack.
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