Contemporary Amperex Technology Co. Limited (CATL) is currently engaged in discussions with NIO to acquire a controlling interest in NIO Power, the energy subsidiary of NIO. NIO Power, which operates a network of over 3,000 battery swapping stations across China, forms the bedrock of NIO's pioneering battery swapping service. These negotiations follow CATL's initial investment of up to RMB 2.5 billion in NIO Power in March, signifying its ambition to gain a majority stake. However, the exact amount of the acquisition remains undisclosed. NIO has yet to directly comment on the transaction but has confirmed its ongoing efforts to collaborate with various investors, including CATL, in the joint development of battery swapping stations.
