As part of the deal, CATL is investing up to RMB 2.5 billion in NIO Power, further solidifying their partnership. The agreement involves leveraging their respective strengths in technology, management, and brand influence to create the largest and most advanced battery swapping service network.

Chinese EV maker Nio (NIO) and battery giant Contemporary Amperex Technology Limited (CATL) have disclosed a partnership to build a vast

Chinese electric vehicle maker Nio announced its partnership with CATL to establish a battery swapping network for cars.