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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.
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An outside investor just put a concrete price on the part of Nio's business that has frustrated analysts for years, and the terms of the deal reveal how much Geely thinks the network is worth.
NIO is selling 30% of NIO Power to Geely for its Yiyi swap business and RMB640 million in cash, valuing NIO's battery swap network at RMB16 billion.