Geely has purchased a 30% stake in Nio Power, valuing the battery swapping business at approximately $2.4 billion. This investment highlights Geely's interest in enhancing its electric vehicle technology. The transaction represents a significant portion of Nio's overall market valuation, which currently stands around $8 billion.
Company Information
Company
Geely
Location
Hangzhou City, Zhejiang, China
About
Geely is a Chinese multinational automotive manufacturing company. It is known for its ownership of Volvo Cars and Polestar. The company focuses on producing vehicles and is expanding its influence in the electric vehicle sector.
Fundz sees it the moment Geely raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Hangzhou CityManufacturingAutomotive