Nio CEO Denies Rumors of CATL Acquiring Controlling Stake in Nio Power

Nio CEO Denies Rumors of CATL Acquiring Controlling Stake in Nio Power

Nio Group's founder and CEO William Li has commented on the Reuters report which said the world's largest battery maker CATL was in discussions to acquire a controlling stake in the Nio Power unit — the EV maker's arm focused on the battery swapping and charging network.

CATL looking at taking control over NIO's swapping network

CATL, the world’s biggest battery maker for the last decade, is looking to take a controlling stake in NIO Power, the battery swapping and fast-charging business of Chinese premium EV maker NIO. CATL will not comment, but Reuters quotes four anonymous sources to back up the story. Last month, news broke that NIO, known for its pioneering role in battery swapping, is joining forces with CATL, its major supplier, to set up a worldwide car-swapping…