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Geely to buy 30% stake in rival Nio’s battery-swapping unit
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- Sep 28, 2026, 8:31 AM UTC
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Chinese automakers deepen partnership to gain edge in crowded EV market
(Sept 28): Zhejiang Geely Holding Group Co will buy a 30% stake in rival electric carmaker Nio Inc’s battery swapping unit for 640 million yuan (US$95 million), providing support for a cash intensive technology that Nio has been spearheading.