Why Chinese EV Maker NIO Is Selling Part of Its Battery Unit — Barrons.com

By Al RootTough times call for some difficult decisions. And Chinese EV maker NIO came up with a new way to raise some needed cash.On Sunday, NIO announced it sold a portion of its battery-swapping business to Chinese EV maker Geely. The sale will raise about $100 million. In return, Geely will own…