According to a report by Reuters citing four sources in the know, Contemporary Amperex Technology Co. Limited (CATL) is in talks with Nio to acquire a controlling stake in Nio Power, a subsidiary of Nio.
In March of this year, CATL announced that it would invest up to 2.5 billion yuan (～342 million USD) in Nio Power to deepen cooperation between the two parties. It is understood that during this period, CATL had already expressed its intention to acquire a controlling stake. Although the transaction amount has not been disclosed, sources have revealed that Nio Power was valued at more than 10 billion yuan in a financing round in 2024.
Currently, Nio operates more than 3,000 power swap stations in China, providing charging and battery swap services for Nio car owners and other electric vehicle brands. However, the high costs of building and maintaining this infrastructure have put pressure on Nio’s profitability.
The acquisition has not been finalized yet. However, for Nio, bringing in CATL as a strategic investor can not only help alleviate financial pressure but also promote the open cooperation of the battery swap network. This could be a key move that Nio needs at present.
As a global leading battery manufacturer, CATL has been actively seeking a transition from a battery producer to a green energy supplier in recent years. Recently, CATL reached a cooperation agreement with Sinopec to build 10,000 battery swap stations, of which at least 500 are expected to be completed this year.
The potential acquisition of Nio Power by CATL could have a far-reaching impact on China’s electric vehicle market. By integrating the resources and technological advantages of both parties, it is expected to accelerate the construction of the battery-swap network, and further promote the popularization and development of electric vehicles.
Discover more from ChinaEVHome
Subscribe to get the latest posts sent to your email.
