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4 days ago
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Context from Wikipedia on the organisations, people and places in this story.
Chinese automotive conglomerate
Zhejiang Geely Holding Group Co., Ltd. (ZGH), commonly known as Geely Holding, is a Chinese multinational automotive conglomerate headquartered in Hangzhou, China. The company was founded by, and is privately owned by Chinese entrepreneur Li Shufu.
More on Wikipedia ↗Nio’s Geely deal boosts its battery-swapping ambitions, but investor skepticism remains.
Chinese electric-vehicle maker Nio (NYSE:NIO) signed a partnership that extends its battery-swap reach, yet the news is weighing on Nio shares. Nio stock is down 4% to $3.43, a reaction to a deal that changes ownership of the company’s most distinctive asset. In the agreement Nio announced, Geely Holding Group…