NIO Stock Jumps Overnight As $2.4B Nio Power Deal Brings Geely Into Its Battery Swap Business
U.S.-listed shares of Nio, Inc. (NIO) jumped 4% overnight late Sunday after the EV maker struck a deal valuing its charging and battery swap business at $2.4 billion and giving longtime partner Geely Holding Group a 30% stake.Nio’s U.S.-listed shares fell 2% last week, extending their losing streak…