NIO to Sell 30% Stake in Battery-Swapping Unit to Geely at $2.4 Billion Valuation

By Jiahui HuangChinese electric-vehicle maker NIO is selling a 30% stake in its battery-swapping unit to auto conglomerate Geely Holding Group in a deal valuing the business at around $2.4 billion.Under the terms announced Monday, Geely will contribute 640 million yuan cash, or about $95.3 million…