Recently, rumors have been circulating that CATL is planning to acquire the controlling stake of NIO power swap station, NIO’s energy business. NIO car owners sought clarification from NIO’s CEO, William Li, on social media platforms. Li responded by urging everyone to “not believe or spread rumors,” but he did not provide any further details.
Previously, Reuters, citing four sources with knowledge of the matter, reported that CATL is in talks with NIO to acquire a controlling stake in NIO Power.
On March 17th, CATL announced a significant investment of up to 2.5 billion yuan (approximately $342 million) in NIO Power, during which it had already expressed its intention to acquire a controlling stake.
The details of these negotiations have not been disclosed, and no specific transaction amount has been revealed. One source indicated that NIO Power was valued at over 10 billion yuan (about $1.366 billion) in a financing round in 2024.
Based on a valuation of 10 billion yuan for NIO Power, CATL could acquire a 25% stake. There are unconfirmed reports from netizens that CATL might obtain a controlling stake (which would require over 50% of shares), implying that CATL may make additional investments in the future.
Regarding the rumors of the acquisition of NIO Power, both parties have previously maintained ambiguous stances. CATL’s response has been, “There is no more information available for now.”
NIO, on the other hand, stated, “We are currently working with multiple investors, including CATL, to jointly promote the construction of battery battery swap station.”
As of April, NIO Power has been operating over 3,000 battery swap stations, covering more than 700 cities across the country, with plans to build 5,000 battery swap stations by the end of this year.
CATL plans to independently construct 1,000 battery swap stations by 2025, covering more than 30 cities.
Additionally, on April 2nd, CATL signed a cooperation framework agreement with Sinopec, aiming to jointly build no less than 500 battery swap stations by 2025, with a long-term goal of expanding to 10,000 stations.
NIO’s CEO, William Li, also revealed in the car owner group that the originally scheduled world model update for the end of April will now depend on the approval progress of various models.
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